JSC National Management Holding Baiterek begins work with new functions - financial support for the agro-industrial complex, which was transferred from the KazAgro holding that was attached to it. On March 15, 2021, the State Property and Privatization Committee of the Ministry of Finance of the Republic of Kazakhstan approved the transfer act.

Thus, the Baiterek holding also included three subsidiaries of the former KazAgro - Agrarian Credit Corporation JSC, KazAgroFinance JSC and the Fund for Financial Support of Agriculture JSC.

- On behalf of the Head of State Kassym-Jomart Tokayev, a lot of work was done. This large-scale optimization is designed to more effectively manage development institutions and efficiently and quickly deliver government support to Kazakhstanis. I would like to emphasize that the accession process will not have a negative impact on farmers. State support for the agro-industrial complex will be provided in full ,” said the head of the Baiterek holding, Aidar Arifkhanov.

In addition, the Baiterek holding is already active in providing financial support to subjects of the agro-industrial complex together with the Ministry of Agriculture of the Republic of Kazakhstan, the Association of Financiers of Kazakhstan, second-tier banks and development institutions. In particular, a pool of potential projects in the agro-industrial sector has been prepared, the implementation of which will increase the saturation of the domestic market and reduce import dependence on critical product items.

A new department for managing agricultural assets was created in the organizational structure of the Holding without increasing staffing levels.

Let us recall that the Baiterek holding, in pursuance of paragraph 52 of the National Action Plan for the implementation of the Address of the Head of State to the people of Kazakhstan dated September 1, 2020, “Kazakhstan in a new reality: time for action,” is taking measures to create a unified development institution by merging with the KazAgro holding.

It is worth noting that the Roadmap for the transfer of KazAgroFinance JSC to Agricultural Credit Corporation JSC is at the development stage, which will provide for all the necessary procedures, including amendments to the relevant legislative acts. Work is also being carried out to transfer the functions of the Financial Support Fund for Agriculture JSC for guaranteeing loans and leasing transactions to the Damu Federal Investment Fund JSC, for direct lending to micro-businesses and crop insurance to the Agrarian Credit Corporation JSC, with the subsequent liquidation of the FFPS.

Thus, currently there are 12 subsidiaries within the Baiterek holding:

Development Bank of Kazakhstan JSC ( www.kdb.kz ) supports large businesses and invests in the country’s non-resource sector.

Damu Entrepreneurship Development Fund JSC ( www.damu.kz ) supports small and medium-sized businesses.

JSC Export Insurance Company KazakhExport ( www.kazakhexport.kz ) provides support for the growth of exports of non-commodity goods, works, and services in priority sectors of the economy.

Kazyna Capital Management JSC ( www.kcm-kazyna.kz ) is a fund of private equity funds created to promote the sustainable development of the country's economy.

JSC "Investment Fund of Kazakhstan" ( www.ifk.kz ) promotes the sustainable development of the country through the rehabilitation of problematic projects.

QazTech Ventures JSC ( www.qaztech.vc ) promotes the development of technological entrepreneurship through the instruments of venture financing, business incubation and expert technological support.

Kazakhstan Project Preparation Fund LLP ( www.kppf.kz ) promotes the country’s infrastructure development by providing services for structuring and supporting infrastructure projects.

Kazakhstan Housing Company JSC ( www.khc.kz ) is the Unified operator of housing construction.

JSC “Housing Construction Savings Bank “Otbasy Bank” ( www.hcsbk.kz ) is the only bank in the country that implements a system of housing construction savings.

JSC "Agrarian Credit Corporation" ( www.agrocredit.kz ) promotes the sustainable development of the country's agro-industrial complex.

KazAgroFinance JSC ( www.kaf.kz ) promotes technical equipment of the country’s agro-industrial complex by providing high-quality and competitive leasing services.

JSC “Fund for Financial Support of Agriculture” ( www.fagri.kz ) finances small businesses with the aim of developing priority areas of the agro-industrial complex and increasing the level of employment of the population.

Let us note that it is planned to further reduce portfolio companies from 12 to 7 with a subsequent adjustment of staffing levels.

Press service of JSC National Management Holding Baiterek

8 (7172) 919205

www.baiterek.gov.kz

baiterek.gov.kz@gmail.com