Kazakhstan’s Development Bank Launches $1 Billion Program to Advance Rare Earth Sector
The Development Bank of Kazakhstan (DBK), part of Baiterek Holding, has launched a $1 billion financing program to support projects focused on the extraction and processing of rare and critical materials. The initiative, set for 2025–2030, aims to accelerate industrial diversification and strengthen Kazakhstan’s position in the global market for high-value materials, the Ministry of National Economy reported.
DBK Chairman Marat Yelibayev noted that the program underscores Kazakhstan’s strategic focus on developing high-tech industries and expanding domestic processing capacity.
The initiative will provide long-term financing of up to 20 years, with a reduced minimum loan threshold of 5 billion tenge (US$9.3 million) and grace periods to support early-stage project development.
Funding will target metallurgical projects with confirmed reserves under the JORC international standard, covering materials such as lanthanides, scandium, yttrium, lithium, cobalt, tungsten, germanium, gallium, and graphite.
According to DBK, the program is expected to create jobs, boost non-resource exports, and drive technological innovation in Kazakhstan’s mining and metallurgical sectors.
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