ECA provides insurance coverage for DBK’s first Digital Tenge loan
The Export Credit Agency of Kazakhstan (ECA) has provided insurance coverage for a unique pilot project by the Development Bank of Kazakhstan (DBK): for the first time in the country, export financing has been implemented using the Digital Tenge. The project was launched by DBK with the participation of Bank CenterCredit (BCC), the National Bank of Kazakhstan, and the National Payment Corporation.
This is the first loan issued by DBK using the Digital Tenge. The primary advantage of this new form of currency is the complete traceability of funds. The use of the Digital Tenge allows the state and financial institutions to eliminate risks associated with the misuse of funds, ensuring transparency and transaction speed.
The first participant in the "pilot" was Qazaq-Astyq Group LLP, a producer of fat and oil products. DBK provided the enterprise with a loan in Digital Tenge for the purchase of raw materials. The mechanism operated as follows: funds were transferred from the borrower’s digital account at DBK to an account at BCC only after confirmation of their targeted use.
In turn, the ECA insured the enterprise’s export contracts. This enabled the company to mitigate commercial and political risks when entering foreign markets. Currently, with the support of DBK and the ECA, the company exports sunflower and rapeseed oil, meal, and phosphatide concentrates.
The ECA emphasizes that the introduction of digital tools is part of a strategy to transition towards systemic support for the non-resource export ecosystem. By the end of 2025, the volume of support for exporters provided by the Agency had already exceeded 650 billion tenge.
In 2026, the ECA plans to increase its support capacity to 900 billion tenge, allowing it to cover a wider pool of Kazakhstani enterprises.
Note: Export Credit Agency of Kazakhstan JSC and Development Bank of Kazakhstan JSC are subsidiaries of Baiterek Holding.
