The only shareholder of the Industrial Development Fund JSC is the Development Bank of Kazakhstan JSC.
Development Bank of Kazakhstan JSC, as the sole shareholder, participates in the management of Industrial Development Fund JSC exclusively through the exercise of the powers of the sole shareholder provided for in the legislative acts of the Republic of Kazakhstan, the Charter of the Industrial Development Fund JSC, and representation on the Board of Directors of Development Fund JSC industry.
Within the framework of the state industrialization program, the Development Bank of Kazakhstan JSC is assigned the role of the country's main investment institution, providing financial support to the Industrial Development Fund JSC, initiatives of the private sector and the state (in terms of infrastructure projects) by providing medium and long-term low-interest loans to non-resource sectors of the economy.
The main strategic directions of the Development Bank of Kazakhstan JSC are:
- Lending;
- Financial resource management;
- Corporate governance and improvement of work organization.
Among the main key decisions made by the sole shareholder represented by the Board of Directors of Development Bank of Kazakhstan JSC:
- Approval of the Articles of Association of Industrial Development Fund JSC and changes in it;
- Election and early termination of members powers of the Board of Directors of the Industrial Development Fund JSC;
- Approval of the annual financial statements and the annual report of the Industrial Development Fund JSC;
- Approval of the amount of dividends;
- An increase in the number of authorized shares of the Industrial Development Fund JSC.
The Development Bank of Kazakhstan JSC is a part of the Baiterek National Management Holding JSC, 100% of the shares of the Development Bank of Kazakhstan JSC are owned by the Baiterek National Management Holding JSC.
The mission of Baiterek National Managing Holding JSC is to promote sustainable economic development of the Republic of Kazakhstan in order to implement state policy and achieve the goals set by the Strategy - 2050.
