Olzhas Bektenov identifies Baiterek Holding's priority task of financing of real economy sector

A meeting of the Board of Directors of Baiterek National Managing Holding was held under the chairmanship of Prime Minister Olzhas Bektenov. The focus of the session was on implementing the Head of State’s instructions regarding support for the real sector of the economy.

Members of the Board of Directors were briefed on the ongoing efforts by the Holding to expand business access to state support tools. Over the first three months of the year, the total amount allocated to support small and medium-sized businesses reached 439 billion tenge — a 28 % increase compared to the same period last year. The Development Bank of Kazakhstan financed 9 investment projects and 9 export operations worth 292.1 billion tenge. The Industrial Development Fund provided 75 leasing transactions and loans totaling 94.5 billion tenge.

In response to the President’s directive to strengthen the agro-industrial sector, over 3,200 agricultural entities received state support. Agricultural producers were financed for a total of 233.4 billion tenge, including 134.9 billion tenge allocated for spring fieldwork. As a result, Kazakhstani farmers acquired more than 1,200 units of agricultural machinery and equipment.

For the first time this year, a record amount of 8 trillion tenge is being allocated through Baiterek Holding’s instruments to finance large-scale industrial and infrastructure projects. These investments are expected to accelerate economic growth and generate new jobs.

“One of the Holding’s top priorities is financing the real sector of the economy. Of the 8 trillion tenge planned for investment into the economy and key industrial and infrastructure projects, nearly 2 trillion has already been utilized. The pace is good, especially considering the construction season has only just entered its active phase. I want to emphasize the importance of coordinated and well-organized work across all Baiterek subsidiaries. This is not an easy task under current conditions, but I am confident we will fulfill our commitments. Provided the state meets its recapitalization obligations, I believe the Holding will deliver on its goal to inject 8 trillion tenge into the economy,” Olzhas Bektenov stated.

The Ministries of National Economy and Finance have been tasked with ensuring the timely capitalization of the Holding.

Special attention was also given to the implementation of housing policy. In the first quarter of this year, more than 11,800 Kazakh families received housing support. Otbasy Bank issued loans worth 225.2 billion tenge, while Kazakhstan Housing Company provided guarantees totaling 27.6 billion tenge.

Following the meeting, a number of organizational and financial documents were adopted to improve the effectiveness of the Holding’s operations and enhance its investment policy.