Kazakhstan launched the first industrial project that will be funded by the Unified Accumulative Pension Fund
Kazakhstan launched the first industrial project that will be funded by the Unified Accumulative Pension Fund (UAPF). Subsidiary organization of the Development Bank of Kazakhstan will finance the purchase of 132 railway platforms for containers transportation from Kazakhstani rail cars manufacturing plant Ziksto. This project is being implemented as part of Nurly Zhol state program for 2015-2019 and the government’s anti-crisis measures. It will not only replenish the fleet of wagons but also increase cargo turnover along the strategic route "China-Europe-China". Experts say that such measures will foster the expansion of Kazakhstan’s transit potential. According to forecasts, the volume of cargo turnover will grow to 170 million tons by 2020.
RINAT GAPPAROV, DEPUTY CHAIRMAN, DBK LEASING:
The project is worth 17.5 billion tenge. All the funds are allocated by the UAPF for 10 years term with 18% annual interest rate. The first installment worth 280 million tenge was paid in January.
In the latest address to the Kazakh nation, President Nazarbayev instructed the government to increase the volume of cargo turnover by 7 times before 2020, with the revenue worth $4 billion per year.