Marat Yelibayev, Chairman of the Management Board of the Development Bank of Kazakhstan (a subsidiary of Baiterek Holding, hereinafter – DBK, the Bank), spoke at a session on Kazakhstan’s new investment cycle during the 35th Annual Meeting of the European Bank for Reconstruction and Development in Riga.
In his remarks, Mr Yelibayev outlined the transformation of Baiterek Holding into a National Investment Holding, with a stronger focus on attracting investment and structuring projects. He said the holding’s annual state capitalisation would amount to KZT 1 trillion, while newly established sectoral investment councils would develop project pipelines in priority areas.
Mr Yelibayev also presented the results of Baiterek Holding’s ecosystem in 2025. More than USD 21 billion was channelled into Kazakhstan’s economy during the year.
Particular attention was given to the Development Bank of Kazakhstan’s updated financing strategy. The minimum financing threshold for projects has been raised from KZT 7 billion to KZT 15 billion, allowing the Bank to concentrate its resources on large-scale, capital-intensive initiatives.
As examples of successful cooperation with the EBRD, Mr Yelibayev highlighted the modernisation of Almaty CHPP-2, the construction of a wind power plant in Zhambyl Region, and the development of a multidisciplinary hospital in Kokshetau.
In closing, the head of the Bank outlined promising areas for cooperation with international financial institutions. These include the joint provision of long-term equity capital for projects at the early stages of industrial development, as well as the involvement of specialised expertise in structuring complex investment transactions.
