Two loan guarantee funds for small and medium
enterprises and large businesses will be established in Kazakhstan. The first
fund will allocate 1.7 trillion tenge to support approximately 30,000 projects,
while the second will help increase the number of large, strategically
important projects in the country. The government reviewed the financing issues
of the real sector of the economy, stating that support will primarily target
manufacturing industries with high export potential, including metal
processing, oil and gas, agriculture, chemical and light industries, food
production, construction materials, machinery, IT, logistics, freight
transportation, tourism, and various infrastructure projects. The Cabinet of
Ministers also discussed measures to ensure additional investment in 2025
through the implementation of the national project for the energy and utilities
modernization.
«The total investments for this project will
exceed 13 trillion tenge over the next five years. This year alone, around 1.2
trillion tenge will be allocated for infrastructure modernization. The project
will not only foster investment growth but also lead to the development of new
domestic products and manufacturers, whose goods will be utilized in building
the country’s utilities infrastructure,» noted Kazakh Deputy Prime Minister and
Minister of National Economy Serik Zhumangarin.
Prime Minister Olzhas Bektenov emphasized the
need to attract investors and instructed government agencies to provide full
support and monitor the implementation of investment projects. He authorized
the cities’ and regions’ administrations to more actively involve local budget
funds. The Ministry of Finance was directed to ensure timely financing of
priority projects. A separate task should be assigned to second-tier banks, Bektenov
noted.
«The state is ready to offer subsidizing,
guaranteeing, and refinancing instruments. However, banks must also be willing
to engage with industrial and infrastructure projects, rather than focusing
solely on trade and consumer lending. It is essential to maintain a balance
between state institutions and banks. State financial entities should not
replace second-tier banks; instead, they should create conditions that
encourage these banks to participate in financing. Overall, we need to develop
private investment instruments, which include issuing corporate bonds and
establishing public-private partnership mechanisms,» the Prime Minister said.
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