The OPEC Fund for International Development (OFID) will allocate up to $400 million for projects in Kazakhstan over the next five years. The Mazhilis has approved a framework agreement with the government to support private-sector initiatives. Under the agreement, loans at 2.5–5% interest will be provided without requiring state guarantees to finance investment projects. Funding will focus on energy, industry, transport infrastructure, finance, agriculture, water resources, telecommunications, education, and healthcare, with a strategic emphasis on the “water–food–energy” nexus. OFID’s assets and income are exempt from direct taxes, and the fund is authorized to convert currencies and transfer funds. The agreement also protects the rights of the fund and its beneficiaries and establishes arbitration as the mechanism for dispute resolution.
Related Articles
