Baiterek Holding and China Development Bank discuss enhanced cooperation and credit partnership

On November 16, 2023, Chairman of the Board of Baiterek Holding, Nurlan Baibazarov, conducted a meeting with Mr. Tan Jiong, President of the China Development Bank.

The discussions covered the existing partnership status, potential collaboration expansion, increased investment cooperation between the Development Bank of Kazakhstan and the China Development Bank, and joint initiatives within the SCO Interbank Association.

Following the meeting, Baiterek Holding and China Development Bank agreed to establish new credit lines for financing projects in manufacturing and infrastructure.

Nurlan Baibazarov highlighted the potential impact of the collective efforts on Kazakhstan's economic development, while Mr. Tan Jiong underscored the pivotal role of Baiterek Holding as a key partner in Kazakhstan and the region for the China Development Bank.

Background: Baiterek Holding, a financial development institution in Kazakhstan, possesses assets totaling $29.4 billion and a capital of $3.9 billion. The holding encompasses eight subsidiaries dedicated to advancing non-resource sectors of the economy, supporting small and medium-sized enterprises, fostering exports, aiding agriculture, and providing affordable housing for people.