Kazakhstan extends funding for businesses
Kazakhstan seeks to raise the capital of its Baiterek Holding as well as ways to incentivize funding for lending, Kazinform News Agency reports.
According to Deputy Prime Minister – Minister of National Economy of Kazakhstan Serik Zhumangarin, Kazakhstan is to increase considerably funding for real sector of the economy in order to accelerate the economic growth in 2025 and onwards.
Besides, the Kazakh Government is set to announce measures aimed at encouraging private investment, including from financial institutions.
In particular, the Government is to raise the capital of Baiterek Holding by 1 trillion tenge this year, as the company is set to finance projects worth 8 trillion tenge in 2025, said Zhumangarin.
As the Kazakh minister said, the investments will be utilized to create new projects in the country, boosting its manufacturing capacity and generating new high-performing workplaces.
As earlier reported, Kazakhstan is to set up two loan guarantee funds to support businesses.