About 3.5 trillion tenge is to be allocated by JSC "NUK "Baiterek" to support Kazakhstan's economy.
According to zakon.kz, this was announced at a government meeting by the Prime Minister of the Republic of Kazakhstan, Olzhas Bektenov.
"The government is actively engaging the resources and funds of the Samruk-Kazyna and Baiterek holdings, the domestic capital market, direct foreign investment, and private capital to finance projects that are a priority for the economy. Through Baiterek, it is planned to finance projects worth more than 3 trillion tenge this year", added Olzhas Bektenov.
It is reported that the bulk of the assistance is planned to be provided through direct support instruments. They intend to allocate 2.8 trillion tenge for this, distributed as follows:
- financing projects in the real sector of the economy – approximately 1.4 trillion tenge;
- financing projects in the agro-industrial complex, including spring field work and harvesting – over 0.5 trillion tenge;
- support for the housing sector – approximately 0.4 trillion tenge;
- implementation of the "Nauryz" and "Otau" mortgage programmes – 0.4 trillion tenge;
- support for exporters and small and medium-sized businesses (SMEs) – 32 billion tenge.
In addition, over 700 billion tenge will be allocated through indirect support instruments, such as guarantees, subsidies, and insurance:
- provision of guarantees for investment projects and SME projects – over 150 billion tenge;
- provision of subsidies to SMEs – approximately 300 billion tenge;
- insurance of export operations – approximately 300 billion tenge.
"This initiative is aimed at strengthening economic stability and stimulating growth in key sectors of Kazakhstan's economy", the statement reads.
For context, earlier the Unified Accumulative Pension Fund (UAPF) presented a report on its investment activities for May 2024, from which it follows that the Fund invested 104.87 billion tenge of Kazakhstani pension savings in bonds of JSC "NUK "Baiterek".
Prior to this, the UAPF presented a similar report for January. It was then reported that the Fund had purchased Baiterek holding bonds worth 173.3 billion tenge.