On February 25, 2026, a strategic session was held at National Investment Holding “Baiterek” JSC, with the participation of its independent directors. During the session, the results of the activity of Industrial Development Fund JSC for 2025 were presented and prospective plans for the current year were outlined.
Chairman of the Management Board of the Industrial Development Fund, Rinat Gapparov, provided a detailed overview of the Fund’s key development indicators and financial performance. He covered the full scope of goals and projects that had been planned and successfully implemented during the reporting year.
The Head of the Fund noted that the Industrial Development Fund is one of the country’s key development finance institutions, whose mission is aimed at strengthening Kazakhstan’s industrial capacity and ensuring the systematic development of infrastructure.
Rinat Gapparov emphasized that all investment projects implemented by the Fund — including the commissioning of new production facilities, comprehensive modernization of existing enterprises, and support for transport and logistics projects — are primarily focused on ensuring the steady growth of the national economy.
A fundamental principle of the corporate policy of the Industrial Development Fund JSC is the social orientation of its projects, which are designed to have a long-term impact primarily for the benefit of citizens.
The Head of the Fund noted that in 2025, as in previous periods, the Industrial Development Fund demonstrated positive growth in its economic and investment performance.
As of the end of 2025, the Fund’s leasing and loan portfolios totaled KZT 2,817 billion, with 524 transactions financed for a total of KZT 948 billion.
Overall, the Fund attracted investments amounting to KZT 939 billion during the reporting year, including an increase of KZT 79.3 billion in its charter capital.
The Fund’s total assets reached KZT 3,458.8 billion, representing an increase of more than 32% (KZT 1,106 billion) in 2025. At the same time, the Fund’s equity amounted to KZT 498.7 billion, and its net profit for 2025 was recorded at KZT 46 billion.
Rinat Gapparov noted that the Fund has successfully strengthened its position within the Holding group, ranking third in terms of assets. At the same time, the Fund ranks seventh in terms of assets among second-tier banks, and it also holds the seventh position in the structure of loan portfolios within this group.
In 2025, the Industrial Development Fund financed 167 projects in the manufacturing sector, including 34 investment projects, as well as 17 projects focused on the collection and processing of municipal solid waste, which have significant environmental importance.
During the reporting year, the Industrial Development Fund’s overall score was upgraded from 63 to 66 by the international rating agency Sustainable Fitch. As known, ESG rating primarily covers environmental and social components.
In addition, the Fund actively participates in the development of the country’s transport and logistics potential, the acquisition of specialized vehicles for the social sector, the renewal of the railway wagon fleet, as well as public transport in regional areas, noting that millions of citizens rely on these services daily.
As a result of 2025, with the financial support of the Industrial Development Fund JSC, the following have been renewed across the country:
- 1,426 passenger buses;
- 149 passenger railcars;
- 1,443 emergency service vehicles;
- 1,240 units of specialized machinery;
- 421 sanitary vehicles;
- 641 firefighting vehicles;
- 442 units of municipal service equipment;
- 27 units of agricultural machinery;
- 4 airplanes and 6 helicopters for the needs of the Ministry of Emergency Situations;
- 2 rail motor units;
- 7 early fire warning systems acquired.
Rinat Gapparov underlined that machine-building remains the primary focus area for the Fund’s operations. Projects in this field will be funded without any limit on their value. Additionally, the Fund is working on a Master Plan for automotive and railway engineering industries’ development.
Projects in other manufacturing sectors will receive funding starting from KZT 7 billion.
The Fund’s sectoral priorities also include the development of infrastructure, covering the financing of the renewal of municipal specialized machinery and railcar fleets, engineering and telecommunications networks, energy infrastructure, aviation, sanitary transport, support for tourism, the municipal solid waste collection and processing sector, and other key industries.
Regarding the attraction of off-budget funds, the Chairman of the Fund noted that in 2025, systematic work began with the Islamic Development Bank to finance the construction and modernization of infrastructure in the country’s special economic and industrial zones.
The signing of a Framework Agreement between the Islamic Development Bank and the Industrial Development Fund, valued at approximately KZT 700 billion, took place from February 24 to 27, 2026.
The Head of the Fund also highlighted that one of this year’s new initiatives is a program for the renewal of machinery fleets for micro, small, and medium-sized businesses within the framework of LDP support. Under this program, applicants can submit their applications either directly or through the Damu Fund. The Industrial Development Fund is developing a scoring system as part of this program, which will be implemented in 2026. The introduction of this innovative system will allow project decisions to be made within 10 working days.
Overall, the Fund plans to finance more than 2,000 projects totaling KZT 300 billion, with a funding limit of up to KZT 300 million per project.
In conclusion, the Chairman of the Industrial Development Fund JSC, Rinat Gapparov, emphasized that the Fund’s comprehensive work, aimed at supporting the manufacturing and infrastructure sectors and ultimately contributing to the growth of the country’s economy and GDP, will continue steadily in 2026.
Representatives of the Holding’s management, as well as the independent directors of the National Investment Holding “Baiterek” JSC, positively assessed the Fund’s activities, expressing satisfaction with the achievement of its economic indicators and performance metrics, as well as the effective execution of tasks set within the current strategic agenda.
