Baiterek Holding Launches New Financing Program for the Export of Oil and Fat Products

On May 21, Baiterek National Managing Holding JSC hosted a signing ceremony for tripartite agreements between Development Bank of Kazakhstan JSC, Export Credit Agency of Kazakhstan JSC, and leading oil-processing enterprises of East Kazakhstan — Altyn Shyghys LLP and Qazaq-Astyq Group LLP.

In his welcoming remarks, Zhandos Shaikhy, Deputy Chairman of the Management Board of Baiterek Holding, emphasized that the signing of these agreements represents an important step in implementing the Holding’s strategy to support the development of non-resource exports.

“Kazakhstan’s oil and fat products have already earned a solid reputation in international markets, demonstrating strong growth in both production and exports. Baiterek Holding and its subsidiaries are committed to providing businesses with a full range of financial support tools, including trade finance, working capital loans, and export insurance. These measures will enable our exporters to reach a new level, expand their export geography, and strengthen Kazakhstan’s position in global markets,” he stated.

The signing ceremony was attended by the heads of the Holding’s subsidiaries — Marat Yelibayev, Chairman of the Management Board of Development Bank of Kazakhstan JSC; Allen Chaizhunosov, Chairman of the Management Board of Export Credit Agency of Kazakhstan JSC; Zhandos Abdykalykov, Commercial Director of Altyn Shyghys LLP; and Nikolay Ushakov, General Director of Qazaq-Astyq Group LLP.

The agreements were concluded as part of a new joint program between the Development Bank of Kazakhstan and the Export Credit Agency of Kazakhstan aimed at developing exports of Kazakhstani oil and fat products. The first participants in the program are Altyn Shyghys LLP and Qazaq-Astyq Group LLP. The program includes pre-export financing and insurance support tools, enabling Kazakhstani enterprises to significantly scale up production and strengthen their presence in foreign markets.

The Development Bank of Kazakhstan will provide up to KZT 15 billion in financing to Altyn Shyghys and up to KZT 8 billion to Qazaq-Astyq Group. These funds will be used for forward purchases of raw materials from local agricultural producers for further deep processing and export of finished products. The Export Credit Agency of Kazakhstan will provide conditional funding to the Development Bank at a reduced interest rate and insure export contracts with deferred payment terms, thus minimizing risks when entering foreign markets.

Additionally, the Export Credit Agency is implementing a similar funding mechanism for the oil and fat industry through second-tier banks. In May of this year, using a similar model, exporter Shymkentmai-Donya LLP was financed.

The oil and fat industry of the Republic of Kazakhstan plays a key role in the agro-industrial complex, with significant export potential. The sector continues to demonstrate stable growth — forecasts for 2025–2026 indicate further development and strengthened positions in international markets.

There are 55 major enterprises in the country capable of processing various crops such as sunflower, rapeseed, soybeans, flax, safflower, and cotton. The processing of these crops enables exports to markets in Central Asia, Europe, the Middle East, and China.

In 2025, Kazakhstan is expected to increase the sown area of oilseed crops by 12.4% compared to the previous year — reaching 3.3 million hectares. As a result, exports of vegetable oils and oilcake to Central Asia are projected to grow by 6–10%, reaching 580,000–600,000 tons, further solidifying Kazakhstan’s position as a key regional supplier.

According to the National Association of Oilseed Processors, in the 2023/24 season, Kazakhstan’s exports of oil and fat products exceeded 1 million tons, a 30% increase. The country ranked among the top 5 exporters of sunflower meal to the European Union and has been among the top 10 global suppliers of sunflower oil since 2022. These achievements underscore the high export potential and strategic importance of the sector.

The implementation of these agreements and the launch of the new program will not only increase export revenues but also support sustainable growth in Kazakhstan’s agro-industrial sector, fostering modern and competitive production with high added value.