OPEC Fund to Provide Up to $400 Million for Kazakhstan’s Private Sector by 2030
Kazakhstan’s Mazhilis has ratified a landmark framework agreement with the OPEC Fund for International Development, establishing expanded financing opportunities for private-sector investment projects across key sectors of the national economy. The ratification took place during a plenary session chaired by Mazhilis Chairman Yerlan Koshanov.
First Vice Minister of National Economy Azamat Amrin highlighted the objectives and mechanisms of the cooperation, as reported by the ministry’s press service. Bauyrzhan Smagulov, head of the working group, noted that the agreement allows the OPEC Fund to provide loans at interest rates ranging from 2.5% to 5%, without requiring sovereign guarantees from the Kazakh government.
The framework agreement enables financing across a broad spectrum of sectors, including energy, industry, transport infrastructure, finance, agriculture, water management, telecommunications, education, and healthcare.
Under this agreement, Kazakhstan’s private sector is expected to receive up to $400 million in financing between 2026 and 2030, supporting the implementation of diverse investment projects aimed at stimulating economic growth and enhancing long-term competitiveness.
