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25.12.2023

Ministry of National Economy reviews Baiterek Holding's 2023 performance results

Ministry of National Economy reviews Baiterek Holding's 2023 performance results

Minister of National Economy Alibek Kuantyrov convened a meeting with the top executives of Baiterek Holding to review the organization's performance for the first 11 months of 2023 and discuss strategies for enhancing its future endeavors.

Nurlan Baibazarov, Chairman of the Board of Baiterek Holding, highlighted notable achievements, stating that the Development Bank of Kazakhstan and the Industrial Development Fund successfully financed 226 substantial entrepreneurial projects and leasing transactions, amounting to 585 billion tenge.

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The Damu Fund provided support to nearly 21 thousand small and medium-sized businesses, securing loans totaling approximately 1.3 trillion tenge. Noteworthy financial allocations of 326 billion tenge were earmarked for export projects through the Development Bank of Kazakhstan and KazakhExport.

-– Leveraging the resources of the Kazakhstan Housing Company, 1,512 thousand square meters of housing, equivalent to 17,310 apartments, were completed. This constitutes 16.6% of the total volume of multi-apartment housing commissioned in the country. Notably, this accomplishment was realized through guaranteeing shared construction, subsidizing loans to private real estate developers amounting to 178 billion tenge, and financing housing construction through local executive bodies with approximately 140 billion tenge, – stated Nurlan Baibazarov.

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Furthermore, over 57.6 thousand families availed housing through the preferential mortgage issued by Otbasy Bank, and 11.6 thousand families received payments under the bank’s rental subsidy program.

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Regarding the development of the agro-industrial complex: 

Farmers were financed with 514.3 billion tenge through lending and leasing initiatives led by the Agrarian Credit Corporation and KazAgroFinance. In response to adverse weather conditions, loans for 970 farmers were successfully restructured, totaling 42 billion tenge.

In the aftermath of the meeting, Alibek Kuantyrov directed efforts to enhance the economic impact of large projects implemented by Baiterek Holding.

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