THE IMPACT OF RISKS ON THE EFFECTIVENESS OF PROJECT FINANCING IN KAZAKHSTAN TAKING INTO ACCOUNT THE TRENDS IN THE DEVELOPMENT OF THE DERIVATIVES MARKET

Abstract

This article examines the impact of risks on the effectiveness of project financing in Kazakhstan, with an emphasis on the role of derivative financial instruments in managing these risks. The analysis shows that the main risks are financial, operational, regulatory and political. The trends in the development of the derivatives market are considered, which help companies minimize risks and improve financing conditions. The conclusions of the article emphasize that effective risk management and the use of modern financial instruments are key factors for the successful implementation of projects in Kazakhstan, which in turn contributes to attracting foreign investment and developing the country's economy