The Investment Fund of Kazakhstan expresses its intention to repay the debt to DBK ahead of schedule
Publication date : 14.09.2021

Investment Fund of Kazakhstan JSC (hereinafter referred to as the Fund, IFK), in response to numerous publications in the media and social networks, considers it appropriate to inform the public that at the moment the management of the Investment Fund of Kazakhstan is taking measures to repay the debt to Development Bank of Kazakhstan JSC (hereinafter referred to as DBK).

So, in March 2021, IFK repaid about 19 billion tenge ahead of schedule to DBK.

 At the moment, taking measures to repay the debt, IFK appealed to the sole shareholder of NMH "Baiterek" JSC with a proposal for early repayment of the amount of 8.24 billion tenge to DBK. After this repayment, the debt of IFK to DBK will amount to 10.4 billion tenge.

At the same time, we note that at present, in addition to assets on the balance sheet, with a market value of 32.5 billion tenge and receivables, in nominal terms of 15 billion tenge, the Fund has at its disposal a total of more than 14.6 billion tenge: of these, 9.74 billion tenge is on the current and savings accounts of the Fund, 4.9 billion tenge is in the form of securities.

Recall that in 2014, JSC "Development Bank of Kazakhstan" concluded in 3 stages with JSC "Investment Fund of Kazakhstan" 42 contracts for the assignment of the right of claim in the amount of 48.3 billion tenge for DBK investment projects.

Within 7 years of work under the new strategy, the Fund has provided a total return on projects worth more than 96.7 billion tenge. The refund was made both in the form of funds and assets accepted to the Fund's balance sheet.

The repayment of the debt under the assignment agreements to DBK takes place according to the schedule, in addition, in 2018 the Fund repaid part of the debt about 30 billion tenge ahead of schedule, in 2021 (as indicated above) - 19 billion tenge.