09/28/2023 14:59:00

Fitch elevates Qazaqstan Investment Corporation's credit rating


Baiterek Holding hosted a meeting of the Strategic Planning Committee

Baiterek Holding hosted a meeting of the Strategic Planning Committee

On May 24, 2023, under the chairmanship of Daniel A. Witt, Member of the Board of Directors of the Holding, a meeting of the Strategic Planning Committee of the Board of Directors was held.

During the meeting, the Board of Baiterek National Managing Holding JSC presented a report on the use by the joint-stock company of financial resources allocated from the republican budget in 2020-2023 and on the results of the Holding's activities for the first half of 2023.
The Holding continues to actively support the development of large businesses by implementing strategic objectives. Thus, the Development Bank of Kazakhstan JSC financed 3 export operations and 1 investment project in the amount of 23 billion tenge in the reporting period.

Support for small and medium businesses is one of the priorities of the Holding. In the first quarter of 2023, Damu Entrepreneurship Development Fund JSC provided support to small and medium-sized enterprises in the amount of 109.8 billion tenge. This includes interest rate subsidies for micro, small and medium-sized businesses, guaranteed loans and conditional lending.

The holding is also actively developing the non-primary economy by financing projects in various industries. Qazaqstan Investment Corporation JSC financed a project in the agro-industrial complex and food production in the amount of 3 billion tenge. All investments of the funds were directed to the non-primary sector of the economy. In addition, Otbasy Bank JSC issued loans to the population in the amount of 183.2 billion tenge, and Kazakhstan Housing Company JSC issued guarantees in the amount of 31.2 billion tenge.

The development of the agro-industrial complex remains one of the Holding's priorities. The total amount of support for the Holding’s subsidiaries in the field of agro-industrial complex amounted to 185.4 billion tenge in the first quarter of 2023. This is 66% more than in the first quarter of 2022. KazAgroFinance JSC leased 6,806 units of agricultural machinery for 172.8 billion tenge in 2022 (in 2021, 141.6 billion tenge). The launch of a preferential program for leasing domestic tractors and combines in 2022 made it possible to lease 4,250 units of Kazakh equipment for 99.8 billion tenge.

Based on the results achieved and plans for the future, Baiterek Holding continues to work actively within the framework of its strategic objectives aimed at improving the economic development of Kazakhstan and improving the quality of life of citizens.

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