National Investment Holding Baiterek is holding talks with major Chinese financial institutions on attracting long-term funding for investment projects in Kazakhstan. The financing is expected to support the development of various sectors of the economy, including the agro-industrial sector.As part of a working visit to Beijing, a delegation of the holding company led by Chairman of the Management Board Rustam Karagoishin held a series of meetings with representatives of leading Chinese banks. The parties focused on opportunities to expand financial cooperation and attract capital for Kazakh enterprises.
This work is being carried out in accordance with the instructions of President of Kazakhstan Kassym-Jomart Tokayev to increase long-term financing and support the real sector of the economy. As part of the new investment cycle, Baiterek is strengthening its work on preparing and supporting projects, taking into account the country's economic needs. Cooperation with Chinese financial institutions is being considered as one way to broaden the sources of funding available for their implementation.
One area of the talks concerned cooperation with the Industrial and Commercial Bank of China (ICBC). During a meeting with ICBC Chairman Liao Lin, the parties discussed prospects for expanding lending operations and cooperation in capital markets. The existing partnership with ICBC already makes it possible to provide financial support to Kazakh enterprises through the Agrarian Credit Corporation and the Industrial Development Fund.
A separate meeting was held with Bank of China Vice President Liu Chenggang. The parties considered possible mechanisms for providing financing to Kazakh projects. In particular, they discussed prospects for cooperation with Bank of China in Hong Kong and the use of the bank's capabilities to raise capital in international financial markets.
An important topic of the talks with both banks was Baiterek's preparation for its first issuance of dim sum bonds. These debt securities are denominated in Chinese yuan and issued outside mainland China. The use of this instrument will allow the holding company to diversify its funding sources and attract additional capital from international investors for projects in Kazakhstan.
According to Baiterek's press service, the development of cooperation with Chinese financial institutions is aimed at expanding financing opportunities for new production facilities and the modernization of existing enterprises. Priority areas under consideration include agricultural processing and the development of energy and transport infrastructure.
The implementation of these projects is expected to contribute to job creation, increase the production of high value-added goods and strengthen Kazakhstan's export potential.
Source: https://agrosearch.kz/en/news/baiterek-rassmatrivaet-kitaiskoe-finansirovanie-dlya-razvitiya-apk-i-infr...
