Managing Director of Development Bank of Kazakhstan JSC (a subsidiary of Baiterek Holding, hereinafter – DBK, the Bank) Zauresh Shalabayeva delivered a report at a panel session during the conference “National Project on Modernization of the Energy and Utility Sectors: Opportunities for Kazakhstani Business.”
In her speech, Ms. Shalabayeva highlighted the important role of DBK as one of the key financial institutions ensuring the implementation of the large-scale National Project. She reminded the audience that the functions of the financial operator of the project have been assigned to Baiterek Holding, while DBK acts as the institution providing direct financing to private natural monopoly entities.
The Managing Director informed participants about the financing terms the Bank offers to natural monopolies and other participants of the National Project. The conditions include loans starting from KZT 3 billion, with maturities of up to 20 years, and a market-based interest rate, where 10% is covered through the tariff and the remaining part is subject to state subsidization.
Special attention in her report was given to the digitalization of the application process: the entire cycle, from indicative analysis to the final decision, is fully automated and carried out through the “Personal Account” system, making interaction with the Bank as transparent and efficient as possible.
At present, DBK is reviewing seven projects within the framework of the National Project with a total value of KZT 141.8 billion. The expected loan amount for these projects is KZT 126.2 billion. Implementation of these initiatives is expected to significantly reduce the level of infrastructure depreciation across the country.
In conclusion, Ms. Shalabayeva called on natural monopolies and business representatives to actively participate in the National Project in order to achieve the goals of modernization and enhance the reliability of Kazakhstan’s key economic sectors.
