On May 25, under the chairmanship of the Prime Minister of the Republic of Kazakhstan, Alikhan Smailov, a regular meeting of the Board of Directors of Baiterek National Managing Holding JSC was held.
One of the main issues was the approval of the holding’s risk report for the first quarter of 2023. It includes an analysis of credit risk, market risk and liquidity risk for both the holding itself and its subsidiaries. During the specified period, no significant changes were identified in the register and risk map.
The preliminary audited annual financial statements of Baiterek for 2022 (consolidated, separate), reports of the Internal Audit Service and the Anti-Corruption Compliance Service of the holding for the first quarter of 2023 were also presented. These reports contain information on audits performed and measures taken to ensure the effectiveness of internal control and combating corruption.
In addition, the meeting considered plans to increase the authorized capital of Baiterek NMH JSC and KazAgroFinance JSC through Agrarian Credit Corporation JSC. The capital increase is planned to finance the purchase of agricultural and forage equipment, as well as mobile irrigation systems. The total investment will amount to 20 billion tenge. The financial and economic justification for this capitalization was approved by the Ministry of Agriculture and Development of the Republic of Kazakhstan.
Following the meeting, Alikhan Smailov instructed to speed up the financing of projects in the manufacturing industry, in particular, by reducing the time for making credit decisions. He stressed that effective and timely financing of the manufacturing industry is necessary to stimulate economic growth and create new jobs in the country.