The Development Bank of Kazakhstan (DBK), a subsidiary of the national holding Baiterek, has announced a new $1 billion financing program to support projects in the extraction and processing of rare, rare earth, and critical materials for the period 2025–2030.
The initiative is designed to become a key financial instrument for advancing high-tech industries in the country’s mining and metallurgical sector, in line with the strategic course set by Kazakhstan’s President to boost domestic value-added production.
The program aims to support medium and large enterprises implementing investment projects in sectors deemed strategically important to Kazakhstan’s economy.
Among its main features are a minimum loan threshold of 5 billion tenge (in any currency — dollars, euros, yuan, etc.), loan terms of up to 20 years, the abolition of financing arrangement and modification fees, and the inclusion of grace periods for borrowers.
DBK emphasized that the program’s relevance stems from the strategic role of rare and critical materials in diversifying Kazakhstan’s industrial base and integrating the nation into global value and trade chains. It also contributes to the objectives of the Comprehensive Development Plan for the Rare and Rare Earth Metals Industry (2024–2028).
“The launch of this program reflects the Bank’s strategic focus on supporting new growth drivers in the economy,” said Marat Yelibayev, Chairman of the Management Board of the Development Bank of Kazakhstan. “We are creating conditions for Kazakhstan to become a producer of high value-added products. This will help build new technological chains, enhance the competitiveness of domestic industry, and strengthen the country’s position in the global critical materials market.”
Financing will target projects within the metallurgical industry, including mining and metallurgical complexes with processing capacity. Borrowers must confirm mineral reserves under the JORC international code. Eligible materials include rare earth elements (lanthanides, scandium, yttrium) and critical materials such as lithium, cobalt, tungsten, germanium, gallium, and graphite, all essential for high-tech industries, green energy, and electronics.
The program is expected to stimulate technological and industrial development, expand DBK’s portfolio of long-term projects in high-tech sectors, and enhance the sustainability of financial flows. For Kazakhstan’s economy, it promises to create new jobs, increase exports of value-added products, promote domestic raw material processing, and consolidate the country’s role as a reliable global supplier of rare and critical materials.
