THE ROLE OF STATE-OWNED BANKS IN STIMULATING INVESTMENTS: A COMPARATIVE ANALYSIS OF INSTRUMENTS TO SUPPORT PRIVATE PROJECTS IN KAZAKHSTAN

Abstract

In the context of global economic instability and the need to diversify the economy, Kazakhstan is actively using the potential of state-owned banks to stimulate investment in priority sectors. The article provides a comparative analysis of key instruments for supporting private projects - state programs, credit guarantees and preferential rates - and assesses their contribution to economic growth. Using the example of the activities of Baiterek JSC, the Development Bank of Kazakhstan and other institutions, mechanisms for reducing risks for investors, expanding access to financing and increasing the competitiveness of businesses are revealed. The results of the study emphasize the need for a balance between government regulation and market principles for the sustainable development of the Kazakh economy.