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.