Kazakh PM Bektenov highlights Baiterek Holding’s target to finance real sector

The meeting on Wednesday highlighted the Holding’s ongoing efforts to improve businesses’ access to state support.

In three months of this year, 439 billion tenge as provided to support SMEs, marking a 28% growth year-over-year, including 292.1 billion tenge through the Kazakhstan Development Bank and 94.5 billion tenge through the Industrial Development Bank.

Kazakhstan’s agricultural producers received funds worth 233.4 billion tenge, including 134.9 billion tenge for spring fieldwork.

It was noted that Baiterek Holding eyes 8 trillion tenge in major industrial and infrastructure projects this year, which are expected to drive Kazakhstan’s economic growth as well as add new jobs.

Prime Minister Bektenov highlighted that one of the priority targets is to finance the real sector of the economy. “Out of 8 trillion tenge set to be invested in the economy, realization of key industrial and infrastructure projects, nearly 2 trillion tenge has already been utilized”.

The meeting also focused on issues regarding the housing policy, highlighting that over 11,800 households were provided with housing in Q1 this year.

Following the meeting, a number of documents relating to the Holding’s organizational, financial performance as well as its investment policy enhancement.

As earlier reported, Kazakhstan seeks to raise the capital of its Baiterek Holding as well as ways to incentivize funding for lending.