Kazakhstan and China plan joint direct investment fund of up to $200 million

Kazakhstan and China are working on a joint direct investment fund with a preliminary target size of up to $200 million, with the possibility of later increasing it, according to the government's press service. The details came after a meeting on the sidelines of the Second Tian Shan Forum on Economic Cooperation in Central Asia between Deputy Prime Minister and Minister of National Economy Serik Zhumangarin and Chinese Finance Minister Lan Fo'an.

The talks covered a joint investment fund to develop the Trans-Caspian International Transport Route (TITR). The initiative was put forward by the Kazakh side during a meeting of the two countries' leaders in Shanghai in July. Zhumangarin proposed that responsible financial institutions in both countries be named to set common approaches to the fund's work.

Zhumangarin also proposed combining existing and planned mechanisms through a single Kazakh-Chinese project financing and insurance window, without creating a new organisation. It would offer packages including long-term lending, insurance coverage, guarantees, yuan financing and, where needed, equity participation. Pilot projects are planned, and the sides also discussed expanding cooperation with China Exim Bank on priority infrastructure projects.