ASTANA, Kazakhstan, October 31. Development
Bank of Kazakhstan (a subsidiary of Baiterek Holding) has announced
the launch of a financing program for projects in the extraction
and processing of rare, rare-earth, and critical materials for
2025–2030, Trend
reports via the country’s Ministry of Economy.
The program, with a total funding volume of $1 billion, is
designed to support mining and metallurgical projects focused on
rare-earth and critical materials, in line with the strategic
course outlined by President Kassym-Jomart Tokayev in his annual
address regarding the development of high-tech industries.
The initiative targets medium and large enterprises implementing
investment projects in this strategically important sector for
Kazakhstan’s economy.
Key features of the program include a minimum financing amount
of 5 billion tenge ($9.4 million) or equivalent in dollar, euro,
Chinese yuan, and other currencies for up to 20 years, elimination
of arrangement fees, flexible financing terms, and a grace
period.
The program aims to diversify Kazakhstan’s industrial base and
integrate the country into global value chains for production and
trade of high-tech materials. It also directly supports the
objectives of the Comprehensive Development Plan for Rare and
Rare-Earth Metals for 2024–2028.
“Launching this program reflects the Bank’s strategic focus on
supporting new growth points in the economy. We are creating
conditions for Kazakhstan to become a producer of high-value
finished products, forming new technological chains, increasing the
competitiveness of domestic industry, and strengthening the
country’s position in the global critical materials market,” said
Marat Yelibayev, Chairman of the Development Bank of
Kazakhstan.
Funding will be provided to metallurgical projects, including
mining-metallurgical complexes with processing facilities.
Borrowers are required to confirm reserves according to the Joint
Ore Reserves Committee (JORC) international code. Eligible
materials include rare-earth metals (lanthanides, scandium,
yttrium) and critical materials such as lithium, cobalt, tungsten,
germanium, gallium, graphite, and others essential for high-tech
industries, green energy, and electronics.
The program is expected to stimulate technological and
industrial development, expand the bank’s portfolio of long-term
high-tech projects, enhance investment quality, and strengthen
financial sustainability.
For Kazakhstan’s economy, the initiative promises new jobs,
increased exports of high-value products, deeper domestic
processing of raw materials, and a reinforced position as a
reliable supplier of rare and critical materials on the global
market.
