Industrial Development Fund JSC has summarized the results of 2023. By the end of the year, the Fund attracted investments amounting to 331,754,976,000 tenge. The authorized capital was increased by 135,000,000,000 tenge, while the net profit reached 23,567,497,000 tenge.
As of December 31, 2023, the leasing and loan portfolios exceeded 1,185,000,000,000 tenge. The Fund issued loans totaling 186 billion tenge, including 100 billion tenge to second-tier banks, 60 billion tenge to leasing companies, and 26 billion tenge to investment projects.
Industrial Development Fund demonstrated robust growth across all key indicators in 2023, due to the implementation of programs for technological modernization of enterprises and the expansion of production capacities.
In the current year of 2024, the Fund is actively working on implementing ESG principles, supporting projects aimed at sustainable development, and investing in innovative technologies and infrastructure. Key activities conducted by the Fund in this direction include supporting green projects, developing sustainable finance tools, managing ESG risks, and enhancing transparency.
In 2024, the Fund issued its first social bonds on the AIX exchange. The issuance process was carried out in strict accordance with the social bond principles established by the International Capital Market Association (ICMA). An external assessment in the form of a "Second Opinion" was provided by the Green Finance Centre of the AIFC, confirming the compliance of this placement with high standards of sustainable finance.
As part of Kazakhstan's transition to a "green economy", the Fund launched a Program for waste recycling, sorting, and disposal. Under this financing program, a pool of 94 investment projects in waste management was formed using funds from recycling payments, as mandated by the Government of Kazakhstan.
Given that, the transition to a green economy and carbon neutrality are crucial strategic goals for the entire country, the comprehensive implementation of environmental and social projects by the Fund, as well as the integration of ESG principles into its operations, will contribute to improving the environmental and economic conditions in the country.
