‘Baiterek’ Holding will allocate 8 trillion tenge to finance the real sector of the economy

On 4 March, a meeting of the Government of the Republic of Kazakhstan was held to discuss financing the real sector of the economy. The report was delivered by Rustam Karagoyshin, Chairman of the Management Board of ‘Baiterek’ National Managing Holding JSC.

In his speech, Rustam Karagoyshin noted that to achieve the Government's goal of increasing GDP to 7% in 2025, the Holding plans to allocate approximately 8 trillion tenge to support entrepreneurship, housing development, and the implementation of key national and investment projects. In the long term, the volume of funding may increase to 10 trillion tenge by 2027.

‘The main goal of our initiatives is to create fair financing conditions for real sector enterprises, excluding market imbalances. We aim to offer businesses competitive rates without the need for additional subsidies, which will reduce the burden on the state budget and increase the efficiency of financial resource distribution,’ Rustam Karagoyshin emphasised.

An important initiative is the creation of the Guarantee Fund for big business, which will make it possible to involve the liquidity of second-tier banks in lending to large investment projects. Guarantee support from the Holding Company will amount to up to 30% of the financing amount, which will ensure the attraction of private investments and the reduction of credit risks.

‘The launch of the guarantee fund will provide large investors with access to long-term and stable financing. We are creating conditions under which the participation of private capital in the economy will grow and the level of risks will be reduced,’ Karagoyshin said.

A Guarantee Fund will be launched for small and medium-sized businesses, based on the ‘Damu’ Fund, which will expand entrepreneurs' access to financial resources and significantly increase the scope of support measures.

Also, ‘Baiterek’ National Managing Holding JSC will act as a financial operator in the implementation of the National Project “Modernisation of the Energy and Utilities Sector” for 2025–2029. The project provides for the financing of natural monopolies in the amount of KZT 4.7 trillion.

‘Financing the modernisation of energy and utility infrastructure is an important step towards sustainable economic development. We aim to support projects that will increase the reliability of energy supply and improve the quality of utility services for citizens and businesses,’ emphasised the Head of the Holding.

The Holding's programmes are aimed at stimulating economic growth, developing entrepreneurship, and attracting private capital to strategically important industries.