Baiterek Holding Has Become a Participant of the World Bank Group’s Global Initiative

     kz

       kz

On April 11-13, 2019, Galymzhan Tajiyakov, the Deputy Chairman of the Board of “Baiterek” National Managing Holding” JSC, has attended the annual meetings of the World Bank and the International Monetary Fund in Washington. Within the forum sessions, the Holding has joined the global initiative of the International Finance Corporation (IFC, the World Bank’s structure) to implement the principles of socially responsible investment (Investing for Impact: Operating Principles for Impact Management). This is in line with the company's strategy of applying best practices in the field of social impact for the funded projects and environmental protection, as well as consistently expanding involvement in international sustainable development projects.

Along with the world's leading financial institutions, the Holding has actively participated in the development of these principles, which are aimed at achieving measurable social and environmental effects from the implementation of the funded projects. Tools in this challenge are evaluation and monitoring of projects, as well as their management in order to eliminate potential adverse consequences.

As noted during the official event Galymzhan Tajiyakov, Baiterek Holding is a key operator of state programs. The company actively invests in the implementation of socially significant projects that affect sustainable development of Kazakhstan. First of all, it concerns business support, providing the population with affordable housing, development of export potential. The global initiative of the World Bank supported by the Holding is directly correlated with the Holding’s new Investment Policy, which aims to achieve not only financial, but also social and environmental results.

- Nowadays, Baiterek Holding is the only development institution in the CIS that is committed to adopting the IFC Principles. This will provide the Holding with several advantages for strengthening international cooperation. First, it opens up additional opportunities for attracting private foreign capital to solving social and environmental issues. Second, it sets a new vector of interaction with global investment companies. Third, the Holding will receive methodological support in the field of responsible investment on a permanent basis from the side of the World Bank Group, - highlighted Galymzhan Tajiyakov, the Deputy Chairman of the Board at “Baiterek” NMH” JSC.

In the course of the forum, the delegation of Baiterek Holding has also held talks with representatives of international investment banks and funds, national development institutions and other financial organizations.