Baiterek Holding invests 1.6 trillion tenge in manufacturing projects in Kazakhstan

     Today, at a meeting of the government of Kazakhstan, Rustam Karagoishin, Chairman of the Board of Baiterek National Management Holding, presented a report focused on the development of the country's manufacturing industry.

     According to the data provided, Baiterek Holding and its subsidiaries – the Development Bank of Kazakhstan, Industrial Development Fund, Qazaqstan Investment Corporation, Damu Fund, and the Export Credit Agency of Kazakhstan (formerly KazakhExport) – offer comprehensive support to the industry, financing 4.6 thousand projects worth 1.6 trillion tenge.

     Detailing the results, Rustam Karagoishin highlighted the key contributions of the subsidiaries:

·         The Development Bank of Kazakhstan allocated 824.6 billion tenge for the implementation of 62 projects.

·         The Industrial Development Fund financed 41 leasing transactions totaling 204.9 billion tenge.

·         Qazaqstan Investment Corporation, a private equity fund, supported 7 projects with 20 billion tenge.

·         The Export Credit Agency of Kazakhstan supported 122 exporters with 465.8 billion tenge through insurance and pre-export financing instruments.

·         Damu Fund supported 5.6 thousand projects worth 751 billion tenge as part of the national project for entrepreneurship development.

     “By the end of 2023, supported enterprises in the manufacturing industry achieved sales totaling 3.9 trillion tenge, constituting 18% of the industry's total product volume. These supported enterprises contributed 12% to non-resource exports,” stated the head of the holding.