Project financing was provided by the National Fund of the Republic of Kazakhstan and the own resources of national companies and development institutions. Business support through loans and leasing financing was provided by subsidiaries of the NMH Baiterek - Damu EDF and the Development Bank of Kazakhstan (DBK). While Damu was focused on SMEs, DBK was focused on conditional and leasing financing projects, as well as export and pre-export lending to large businesses. In support of exports, the emphasis was placed on products with high added value, and priority was given to projects in new promising niches for the export of processed products.
Support for exporters-a standard activity of development institutions in developed countries - was a new activity for the DBK. The scheme, which was planned to provide support, assumed the use of two types of credit – export and pre-export, including through lending to financial institutions of the importer for the purchase of products manufactured in the territory of the Republic of Kazakhstan.
The low rate was to be provided by cheap long-term money of the National Fund of the Republic of Kazakhstan – 65 billion tenge (68%) of the 95 billion tenge planned for this direction were loans from the Sovereign Fund. DBK attracted the remaining 30 billion to the IAPF on market terms.
According to the CEO of Bank of Development of Kazakhstan Abai Sarkulov, for 5 years on the program "Nurly Zhol", 17 Kazakh companies in four manufacturing sectors received export financing, including machine builders of "Kentau transformer plant" and "Kaynar-AKB", the food industry representatives of "Bayan Sulu" and "Maslodel", the fertilizers manufacturers of "Kazphosphate" and "KazAzot", metallurgists of "Kazzinc" and others. Participants of the program took their products to neighboring markets – Russia, Uzbekistan, Turkmenistan, Tajikistan, Kyrgyzstan, as well as to China, the United States of America and other foreign countries
The list of products shipped for export includes traditional products of Kazakhstan's industry and new types of industrial goods that are produced due to industrialization projects: slabs, billets, pipes, rolled products (fittings), tin, metal zinc, lead, copper, silver ingots, alumina, power oil and dry transformers, substations, car batteries, vegetable oil, dairy products, confectionery, soft drinks, tea, sodium cyanide, yellow phosphorus, sodium tripolyphosphate, and ammophos.
The DBK reports that as of December 1 this year, taking into account renewable credit lines, the DBK allocated 420 billion tenge for export financing of Kazakh companies for export development. The Bank points out that the export revenue already received by borrowers, including from export operations financed by the DBK, is KZT 552.5 billion. Enterprises paid over 36 billion tenge of taxes from these operations to the budget of the Republic of Kazakhstan. An important result is that 19 thousand jobs have been saved at these enterprises since 2015.
