Priorities for partnership with the Islamic Development Bank were discussed at the Baiterek Holding.

A meeting took place in Astana between Nurbolat Aidapkelov, First Deputy Chairman of the Management Board of the Baiterek Holding, and Hammad Zafar Hundal, Head of the Islamic Development Bank (IsDB) Group’s Regional Hub in Almaty. The parties discussed the development of infrastructure for economic zones, the modernization of the energy and utility sectors, and mechanisms to support Kazakhstani exports.

The meeting was attended by representatives from the Holding’s subsidiaries: the Development Bank of Kazakhstan, the Kazakhstan Housing Company, the Industrial Development Fund, and the Export Credit Agency of Kazakhstan.

The IsDB Group’s Regional Hub in Almaty coordinates operations across five Central Asian countries, including Kazakhstan.

A key topic of discussion was the infrastructure development program for special economic and industrial zones, which is being implemented through the Industrial Development Fund. The program has a total value of approximately 1.3 billion US dollars and encompasses 11 special economic zones and 13 industrial zones across 14 regions of Kazakhstan. Establishing the necessary infrastructure will expand opportunities for locating production facilities and implementing investment projects.

A framework agreement for the program was signed in February 2026. As part of the first phase, agreements concerning state guarantees and forward leasing, totaling 96.2 billion tenge, have been concluded.

“For the Baiterek Holding, the long-term financing and international expertise offered by the IsDB Group are highly valuable. Our subsidiaries provide support for investment projects, industrial leasing, entrepreneurship, and exports.”

Particular attention was given to potential cooperation within the framework of the national project for the "Modernization of the Energy and Utilities Sectors," for which the Baiterek Holding serves as the financial operator. The Development Bank of Kazakhstan and the Kazakhstan Housing Company are involved in organizing the financing for this initiative.

During the meeting, discussions also covered the mobilization of long-term capital for investment and infrastructure projects, as well as trade finance and the reinsurance of export risks. Practical experience in collaborating with the IsDB Group already includes supporting the supply of Kazakh-made locomotives to Azerbaijan and utilizing a mechanism for the reinsurance of export letters of credit.

Another topic addressed was the preparation of the IsDB’s Country Partnership Strategy for Kazakhstan for the 2027–2031 period. Nurbolat Aidapkelov emphasized the importance of aligning this strategy with national priorities and the capabilities of the development institutions under Baiterek Holding—specifically regarding industrial support, infrastructure renewal, and the promotion of Kazakhstani products in foreign markets.