Enterprise sector
The Bank will support economic diversification and enhance competition by working directly with corporates across various sectors such as general industry, power, agribusiness, telecoms and property. It will also promote projects leading to higher energy efficiency and increase the capitalisation of enterprises through equity investments.
Competition in the natural resources sector will be increased by working with smaller operators and on higher risk projects. The Bank will finance smaller projects directly and continue to provide micro and small financing and tailored capacity building using the Kazakhstan Small Business Programme (KSBP) and leasing facility. High standards of corporate governance, integrity and transparency of ownership, including through foreign direct investment (FDI) to Kazakhstan, will be promoted. Selectively support regional cross-border expansion of reputable Kazakh companies to neighbouring markets.
Infrastructure
Increasing support in transport, energy and telecommunication infrastructure development to satisfy the growing needs of the economy and promote reforms. The Bank will focus on non-sovereign projects. It will take leadership in developing and actively engaging in appropriately structured public-private partnerships (PPPs) that involve competitive tender processes. It will work with state holding company Samruk on finding synergies between different parts of infrastructure and improving corporate governance in state owned enterprises. Support will also be provided to further regulatory and tariff development that promotes investments and fair access to infrastructure.
Financial sector
To promote strategic FDI into the financial sector, but also open up the capital base of local banks to reputable financial investors through initial public offerings (IPOs) or private placements. It will continue to work actively with existing shareholders of Kazakh banks to achieve better transparency of ownership and corporate governance.
Competition will be facilitated in the financial sector by providing debt and equity, particularly to medium-sized banks and non-bank microfinance institutions (NBMFIs), thus supporting micro, small and medium-sized enterprises (MSMEs). A special emphasis will be on the provision of financial resources outside the main cities and in rural areas. The Bank will support the development of leasing, insurance and pensions, the further deepening of mortgage markets (especially outside of the two main cities) and facilitate the securitisation of assets by Kazakh financial institutions.
Policy dialogue
The Bank will support the government in its efforts to improve the investment climate and to diversify the economic structure, leading to improved global competitiveness. It will cooperate with the state companies Samruk and Kazyna to achieve corporate governance and operational improvements. It aims to promote transparent practices and fight corruption to improve the business environment. The adoption of the anti-money laundering (AML) legislation will be promoted, especially in light of the government initiative to create the Regional Financial Centre in Almaty (RFCA).
