National Holding "Baiterek" Set to Receive New State Funding

Deputy Prime Minister and Minister of National Economy Serik Zhumangarin informed the government about new measures to support the real sector of the economy.

The CabMin plans to increase the capital of the "Baiterek" holding by 1 trillion tenge in 2025, Orda.kz reports.

This additional funding is expected to enable "Baiterek" to finance projects worth 8 trillion tenge next year.

These investments will drive the creation of new projects across the country, boosting production capacity in the manufacturing sector and generating high-productivity jobs,Zhumangarin stated. 

As part of its role, "Baiterek" will provide loans to businesses, along with new financing instruments. Two loan guarantee funds will be established for small and medium-sized enterprises (SMEs) and another for large businesses.

Authorities aim to support around 30,000 SME projects in 2024, with a total funding of 1.7 trillion tenge.

The allocated funds will focus on metal processing, oil & gas, agricultural products, chemical industry, light industry, food production, construction materials, mechanical engineering, as well as the IT industry, logistics, freight transportation, tourism, anchor and infrastructure projects, and cluster projects that create an eco-environment for the support of SMEs.

Original Author: Ilya Astakhov