Rustam Karagoishin Presents Economic Financing Plans to the IMF Mission

The Chairman of the Management Board of Baiterek Holding, Rustam Karagoishin, met with Amina Laresh, Head of the International Monetary Fund (IMF) Mission to Kazakhstan. The parties discussed lending and investment plans for 2026 and 2027, sources of financing, and approaches to project selection. Representatives of the Development Bank of Kazakhstan also attended the meeting.

The Head of the Holding presented the approaches to achieving the target of providing approximately KZT 8 trillion in annual financing to the real sector of the economy. With the Holding's capitalization standing at around KZT 1 trillion, the bulk of the funds are raised on market terms, including through bond issuances in domestic and international markets. When selecting funding sources, the Holding takes into account borrowing costs and maturities, as well as foreign exchange risks.

“State capital serves as a foundation that enables the Holding to mobilize several times more resources from the market. For long-term investments, it is particularly important to ensure that the maturities of funds raised are aligned with the lending terms,” the Chairman emphasized.

The meeting also covered existing support programmes for businesses, agriculture, and the housing sector. These include interest rate subsidies on loans and leasing for entrepreneurs under the «Іскер аймақ» programme, preferential financing for sowing and harvesting operations under the «Кең дала 2» programme, and mortgage lending under the «Наурыз» programme.

The Holding also presented the activities of its four sectoral investment directorates. They conduct preliminary assessments of projects and help project initiators select appropriate financing instruments. Funding decisions are made by the relevant organizations within the Baiterek Holding group of companies following an assessment of projects and credit risks.