"In accordance with the instruction of the head of state, given on October 5 as part of a message to the people of Kazakhstan entitled "Growth of welfare of people in Kazakhstan: raising incomes and quality of life ", the National Bank plans to provide long-term tenge liquidity in the amount of 600 bn tenge to ensure affordable lending on priority projects of the real sector of Kazakhstan," reads the statement.
It is noted that the National Bank, together with the Government, is already working to determine the conditions and mechanism for provision of these funds.
"As part of the work being carried out, the bank is considering possible use of USPF pension assets under market conditions, including the funds that were planned but not fully used for investments in accordance with the bond program for banks for 2018 in the amount of 200 bn tenge," reads the message.
As part of this program, according to the financial regulator, the pension assets of the USPF are invested “on market terms in banks' bonds to 35 bn tenge with a yield of 11.5-12% per annum.”
Photo source: picture from an open source