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Kazakhstan's Development Bank to expand support of communication projects

16 December 2019 [12:59] - TODAY.AZ

By Trend

Development Bank of Kazakhstan (DBK) is aiming to continue work on increase communications projects share in DBK’s loans portfolio, Managing Director of the DBK Dastan Akhmetov told Trend.

According to Akhmetov, investment projects, which are of socio-economic effect and are focused on creation and development of communications and telecommunications infrastructure are a priority for DBK funding.

"These goals correspond to the goals of country’s Digital Kazakhstan State Program. The bank being the national development institution is aiming to promote further implementation of the program via providing funding for projects’ implementation, which meet the requirements of the program," Akhmetov said.

Currently, he noted, DBK is funding four projects in area of communications worth 102.4 billion tenge ($265 million).

"Their share in DBK’s loan portfolio equals five percent. DBK is looking to increase the share of communications projects in total share of projects supported by the bank," Akhmetov said.

Akhmetov further noted that the projects for construction of new or modernization of existing ventures funded by DBK also provide for digitalization of the economy sectors these ventures operate in due to the fact that the projects often oversee purchase of new, high technology equipment and creation of automated, robotic manufacturing processes.

"At the same time, the bank’s loan portfolio currently includes projects aimed at creation of conditions for digital development of Kazakhstan," Akhmetov.

These are:

- Construction of the hardware and software complex of the communication platform along the railway lines project (Transtelecom JSC),

- Providing broadband access in rural areas of Kazakhstan on the technology of fiber-optic communication lines (SilkNetCom JSC)

- Network deployment of the wireless communication as the fourth generation (4 G) on the territory of the Republic of Kazakhstan, providing broadband Internet at a bit rate up to 100 Mb/s (Mobile Telecom - Service LLP and Kazakhtelecom JSC)

- Provision of broadband Internet access in remote villages (Kazakhtelecom JSC).

Concluding, Akhmetov noted that overall DBK aims to promote implementation of communication projects in various state programs.


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