Kazakhstan OKs OPEC Fund Plan to Finance Private Sector

The Kazakh parliament has ratified a Framework Agreement with the OPEC Fund for International Development, enabling concessional financing for the private sector without state guarantees.

The decision was made during a plenary session chaired by Kazakh Parliament Speaker Yerlan Koshanov, The Caspian Post reports via Kazakh media.

The agreement allows the Fund to provide loans at 2.5-5 per cent interest for investment projects, with tax exemptions, currency conversion options, and protection of Fund assets and beneficiary rights. It also includes a dispute resolution mechanism through arbitration.

The ratification paves the way for up to $400 million in funding for private companies between 2026 and 2030, supporting projects across energy, industry, transport, finance, agriculture, telecommunications, education, and healthcare.

This step strengthens Kazakhstan’s efforts to attract international financial support and expand private sector development.