Development Bank of Kazakhstan projects: support of non-resource sector

inbusiness.kz

Support for the non-resource sector and export-oriented enterprises, improvement of the country’s investment climate and financing of infrastructure projects - these are the tasks of the Development Bank of Kazakhstan (DBK). Like the country, the national financial institution is also celebrating its anniversary this year, although it is ten years younger. However, over the years, it has been supporting the strategic directions of Kazakhstan’s economy. The total amount of projects and investment programs funded by it exceeded 3.7 trillion tenge (US$8.6 billion). This is about 149 investment projects and 107 export operations. In addition, with the bank’s support, 122 new enterprises were launched and modernized.

“Enterprises financed with the participation of the DBK produced goods worth 3.3 trillion tenge (US$7.7 billion). To understand what these figures mean, they can be compared to gross domestic product and they amount to about 5 percent of Kazakhstan’s GDP. Over the years, through the financing of export operations, we have stimulated the export of products worth two trillion tenge (US$4.6 billion), which is about 3 percent of the country’s GDP. About 30,000 jobs have been created in the enterprises financed by DBK,” said Zhanat Ansaganova, Chief of Staff, Development Bank of Kazakhstan.

Establishment of manufacturing activities and infrastructure - the DBK intends to follow this strategy by increasing investment to 4.4 trillion tenge (US$10.3 billion) by 2023. It also plans to focus on strengthening cooperation with private business and actively support public-private partnership projects.

Translation by Assem Zhanmukhanova

 

 

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