Industrial Development Fund portfolio reaches 1 trln tenge

Project financing through leasing and lending instruments is aimed at diversifying the manufacturing industry, supporting and stimulating the production of medium and high value-added goods, developing infrastructure, as well as assisting in attracting investment to the economy of Kazakhstan.

The growth of the Fund's portfolio was achieved through financing projects under the 2023-2029 Concept of Kazakhstan's Processing Industry Development and other program documents of the Government of the Republic of Kazakhstan.

JSC Industrial Development Fund was established as per President Kassym-Jomart Tokayev's instruction dated May 11, 2020 in order to develop the industrial potential of economy. On August 18 of the same year, the Decree of the Government of the Republic of Kazakhstan No. 521 «On the establishment of the Industry Development Fund» was adopted.

Among the projects supported by the Fund are factories specializing in assembly of buses and special equipment, cars, railway wheels and terminals, an iron foundry, the production of car tires, household appliances, building materials, a project for a localization center for agricultural machinery, projects to upgrade the fleet of railway trains and agricultural machinery , as well as projects in the food, chemical, renewable energy industries, etc.