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Industry Development Fund to be established in Kazakhstan

Industry Development Fund JSC is created in compliance with the instructions of the Head of State, the press service of the Ministry of Industry and Infrastructure Development of the Republic of Kazakhstan reports.

The Industry Development Fund is created on the basis of the current financial operator of the state industrial development programs and Nurly Zhol - BRK-Leasing JSC.

The Head of State noted in his Address to the people of Kazakhstan on September 1, 2020, the most important task facing Kazakhstan is to achieve its full industrial potential.

The Government has been tasked with increasing the competitiveness of manufacturing enterprises in the domestic and foreign markets.

The Ministry of Industry and Infrastructure Development of the Republic of Kazakhstan, jointly with BRK-Leasing, have been implementing programs to modernize domestic processing enterprises as well as to stimulate demand for goods of domestic producers.

The creation of the Fund would enable the expansion of state support measures for domestic enterprises working in processing industry. It aims to provide affordable financing for domestic enterprises at a rate of no more than 3%.

The key priority of the Fund is the implementation of strategic investment projects, within the framework of the tasks set in September this year by the Head of State in his message to the people of Kazakhstan.