Kazakh holding Baiterek funded $3.2 blnin machine building, seeks more projectsKazakh state holding company Baiterek has provided 1.5 trillion tenge (about $3.2 billion) in financing to the country's machine-building sector over the past five years but is struggling to find enough investment projects, Deputy National Economy Minister Arman Kasenov said Thursday."The funding from Baiterek to machine building over the past five years amounted to 1.5 trillion tenge," Kasenov told the 13th Machine Builders' Forum of Kazakhstan.Kasenov said Baiterek is ready to significantly increase financing if businesses demand it."If there were applications for 2 trillion tenge, they would finance 2 trillion. For 3 trillion tenge, they would finance 3 trillion. Baiterek has no problem financing more applications," he said.However, Kasenov said a key problem remains a lack of investment projects."Baiterek has serious concerns that there are not enough projects they can finance," he said. "Our practical task is for businesses to bring more projects."Machine building accounts for about 20% of Kazakhstan's manufacturing industry and remains a key driver of economic growth.According to the Union of Machine Builders of Kazakhstan, production volume in the sector rose about 18% in 2025 to exceed 5.7 trillion tenge (about $12 billion).Baiterek is an integrated development institution that supports entrepreneurship, develops the agricultural sector and provides housing. The Kazakh government is the holding company's ultimate beneficiary.The official exchange rate April 2 was 475.09 tenge to the U.S. dollar. (ICE ALMATY)

Fonte notizia: INTERFAX