Government to ensure repayment of funds attracted from Unified National Pension Fund — Alikhan Smailov

The Prime Minister Alikhan Smailov commented on the possibility of allocating funds from the UNPF for the implementation of large industrial and infrastructure projects. He answered the relevant question at the briefing after the meeting of the Senate of the Parliament of the Republic of Kazakhstan.

As noted by the head of the Government, the main task of the UNPF is to ensure the safety and increase of pension assets of Kazakhstan citizens. For this purpose the corresponding investment strategy has been adopted. 

"It is possible to multiply the assets of depositors only by investing funds in any profitable instruments. And at market rates and on a repayable basis. At present, the Government is considering major projects in the spheres of industrialization, transport, infrastructure, which require financing. We are considering different sources, including funds of the Unified National Pension Fund," Alikhan Smailov said. 

He added that this issue was previously discussed and supported at the State Commission on Modernization of Economy. We are talking about the amount of 1.5 trillion tenge.

"Currently, we are working out the terms of attraction together with the National Bank. The repayment of funds will be provided within the framework of fulfillment of debt obligations of the Government," Prime Minister emphasized.

#Alikhan Smailov #The Prime Minister of the Republic of Kazakhstan #Briefing #Economic Modernization Commission

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