This year representatives of 14 countries, such as Russia, Iran, France, Germany, Canada, South Korea and many others gathered at the Baikonyr Invest discussion platform in Kyzylorda, which annually gathers more than 300 foreign and domestic guests. All participants of the forum are the representatives of business communities and research institutes, heads of investment companies, experts in the field of economics. The topic of the second section aroused heightened interest from the audience - the development of public-private partnerships today receives special attention from the government. So, according to akim of Kyzylorda region Kuanyshbek Iskakov, the PPP mechanism is one of the key tools to stimulate investment activity of privately owned capital and ensure the most effective harmonizing the interests of the state and business organizations.
In this direction, the Development Bank of Kazakhstan – the national financial institution with the primary purpose to develop and improve the efficiency of state investment activities - performs a tremendous job. Yet today DBK adapts business processes and application review procedures to the government-set procedure for implementing PPP projects. As the Managing Director of DBK Bakhytzhan Omarov noted in his speech, this will ultimately make the Bank's procedures more convenient and well-timed.
DBK is intended to optimize processes in order to make our services convenient for customers and partners. We understand the value of PPP projects, as they drive up improving the efficiency of mutually advantageous cooperation between the state and the private sector, improving the quality of services, accelerated modernization of infrastructure necessary for economic diversification. For example, in order to support PPP projects, we have reduced the limit on the minimum loan amount. That is, if now the limit for an investment loan is 7 billion tenge, it is 3 billion tenge for PPP projects. It is understood that the bankable feasibility study takes about 72 working days, it also determines the interest rate on the loan.
Under this scheme, the Bank has already financed 2 projects in the energy sector, as well as the construction of renewable power sources facilities. Without additional pledged collateral. The Bank can also apply this funding model to PPP projects.
