Kazakh Development Holding Baiterek Revamps to Lure More Foreign Funds

Kazakhstan’s development investment powerhouse is branching out beyond its traditional role as a provider of subsidies and loans, adopting a model akin to an investment bank as it plans to borrow about $3 billion abroad this year.

Baiterek National Investment Holding plays a central role in implementing the Central Asian country’s economic development agenda, focusing on attracting foreign investment. It operates through four main arms, including the Development Bank of Kazakhstan, as well as units that support small and medium-sized businesses and housing finance.