06/16/2026
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On June 15 in Astana, Rustam Karagoishin, Chairman of the Management Board of Baiterek National Investment Holding JSC, held a meeting with Ben Black, Chief Executive Officer of the U.S. International Development Finance Corporation (DFC). The parties discussed prospects for investment cooperation in priority sectors of the Kazakhstani economy and possible formats for joint work.
The Kazakhstani side was represented at the negotiations by Timur Onzhanov, Deputy Chairman of the Management Board of Baiterek Holding; Marat Yelibayev, Chairman of the Management Board of the Development Bank of Kazakhstan JSC; and Didar Karimsakov, Chairman of the Management Board of Qazaqstan Investment Corporation JSC. The American side was represented by DFC CEO Ben Black, U.S. Ambassador to Kazakhstan Julie Stufft, DFC Chief of Staff Conor Coleman, and Gordon Wood, Deputy Chief of the Economic Section of the U.S. Embassy in Kazakhstan.
Rustam Karagoishin, Chairman of the Management Board of Baiterek Holding, presented the holding's mandate and areas of activity, including entrepreneurship support, and infrastructure project development. DFC representatives outlined the corporation's priority investment areas: energy, infrastructure, telecommunications, digital technologies, and artificial intelligence.
"Baiterek Holding is consistently expanding its international partnerships to attract investment into priority sectors of Kazakhstan's economy. We are interested in developing cooperation with DFC in the areas of infrastructure, energy, the agro-industrial complex, and digital technologies. I am confident that combining the capabilities of our institutions will create new mechanisms for supporting investment projects and attracting private capital," said Rustam Karagoishin.
During the discussion, particular attention was paid to the development of AI infrastructure and potential cooperation with American technology companies. The parties also examined joint financing mechanisms, the possibility of participating in investment projects on the basis of public-private partnerships, and issues related to attracting private capital. Critical minerals, agriculture, energy, and large-scale infrastructure projects were identified as promising areas for joint work.
Following the meeting, the parties confirmed their mutual interest in developing investment cooperation and agreed to continue exploring promising projects involving development institutions and private investors.
Background Information
Baiterek National Investment Holding JSC is a Kazakhstani development institution that provides financial and institutional support for the implementation of investment projects across various sectors of the country's economy.
