Kazakhstan approves cooperation terms with OPEC Fund to finance investment projects
Kazakh Majilis deputies approved a Framework Agreement with the OPEC Fund for International Development, which provides concessional financing for the private sector without state guarantees, Qazinform News Agency reports.https://qazinform.com/
At a plenary session chaired by Speaker Yerlan Koshanov, the Majilis ratified the Framework Agreement on private sector operations between the Government of Kazakhstan and the OPEC Fund for International Development, the National Economy Ministry’s press service stated.
1st National Economy Vice Minister Azamat Amrin presented the document. According to working group head Baurzhan Smagulov, the agreement opens the possibility for the Fund to provide loans at 2.5–5% interest rates without requiring Government guarantees to finance investment projects.
He stressed the Fund’s assets and income are exempt from direct taxes, with the possibility of currency conversion and fund transfers.
The document also defines the Fund’s status and regime, grants privileges and immunities, includes protection of the rights of the Fund and beneficiaries, and establishes a mechanism for dispute resolution through arbitration.
Its ratification creates conditions for expanding the Fund’s financial support for Kazakhstan in sectors such as energy, industry, transport, finance, agriculture, water resources, telecommunications, education, and healthcare.
It is planned to channel up to 400 million US dollars to private companies to develop various projects in 2026–2030.
As earlier reported, Senators have ratified the Agreement between the Government of the Republic of Kazakhstan and the Government of Turkmenistan on combating crime.
