The Industrial Development Fund sums up the results of 2023

In 2023, the Industrial Development Fund Joint-Stock Company (a subsidiary of Development Bank of Kazakhstan JSC) demonstrated breakthrough growth dynamics in key performance indicators.

The Fund's contribution to the country's economy this year amounted to about 500 billion tenge. The Fund has financed more than 1,500 transactions. The Fund's project portfolio has reached 1.2 trillion tenge and continues to grow.

Over the current year, the Fund has supported more than 30 projects in the manufacturing industry, their implementation has created about 5,200 new jobs, provided tax revenues to the country's budget, and thus contributed to the diversification of the economy.

1,243 school and passenger buses, 275 units of police cars, 68 units of fire equipment, 540 units of freight cars, 50 units of passenger cars were leased in all regions of the country. Also, as part of the Leasing Financing Program for the renewal of the machine and tractor autopark, the Fund financed the purchase of 482 units of commercial equipment and 195 units of agricultural machinery.

The international rating agency Moody's Investors Service has upgraded the long-term ratings of the issuer of Industrial Development Fund JSC from Ba2 to Ba1 with a "positive" outlook.

To date, the Fund continues to accept applications for preferential financing of manufacturing industry projects for small and medium-sized businesses. Manufacturing enterprises within the framework of the Program can receive financing through leasing and lending instruments within the framework of the Concept of development of the manufacturing industry of the Republic of Kazakhstan for 2023-2029.

Next year, the Industry Development Fund will continue to finance projects aimed at supporting and stimulating the production of medium and high-value goods, infrastructure development, as well as assistance in attracting investments into the country's economy.