ECA presented a strategy for scaling business support tools.
The Export Credit Agency of Kazakhstan (ECA) held a strategic session dedicated to the development of export support mechanisms and the identification of promising foreign markets. The event was attended by members of the Board of Directors and the Management Board of ECA, representatives of JSC "NIH "Baiterek", development institutions — the Development Bank of Kazakhstan and the "Damu" Entrepreneurship Development Fund — as well as business community representatives.
Opening the strategic session, Yersain Khamitov, Chairman of the Board of Directors of ECA, outlined the key directions for further strengthening the agency's role as an institution supporting non-resource exports. "Our shared task today is not limited to increasing the volume of non-resource exports, but extends to creating conditions for the sustainable operation of Kazakhstani companies in foreign markets. The Export Credit Agency of Kazakhstan should transform into a proactive development institution driving non-resource export growth and a fully-fledged financial ecosystem for business support," E. Khamitov stated.
Allen Chaizhunusov, Chairman of the Management Board of ECA, presented the agency's achievements and its current strategic vector: "In recent years, the Agency has been systematically developing and strengthening its position as an institution for supporting non-resource exports. Extensive work has been carried out to increase insurance capacity and capitalization levels. The volume of support has doubled. For us, maintaining portfolio quality is just as important as driving growth in indicators," A. Chaizhunusov noted.
One of the main topics of the session was the expansion of support instruments. According to Madina Yerzhanova, Deputy Chairwoman of the Management Board of ECA, the agency plans a phased transition from a predominantly insurance-focused model to a comprehensive financial ecosystem. In this context, systematic support for small and medium-sized enterprises (SMEs) will be given special priority. By 2027, the agency aims to make SME support one of its core strategic focus areas.
To formulate comprehensive solutions, key financial market participants were engaged in the discussion, including the executive leadership of the Development Bank of Kazakhstan, the "Damu" Entrepreneurship Development Fund, and representatives of large businesses.
Special attention during the meeting was paid to enhancing cooperation among development institutions. Marat Yelibayev, Chairman of the Management Board of JSC "Development Bank of Kazakhstan" (DBK), emphasized that DBK is a key financial partner in executing major investment and export-oriented projects. According to him, pooling the capabilities of development institutions is essential to achieving maximum results in export promotion. "ECA should underwrite insurance and country risks, while DBK and commercial banks provide the necessary financing," M. Yelibayev stressed.
The head of DBK highlighted the development of Buyer’s Credit mechanisms, interbank insurance, foreign bank financing, and long-term project finance as promising avenues for joint collaboration.
In turn, Farkhat Sarsekeyev, Chairman of the Management Board of JSC "Damu" Entrepreneurship Development Fund, outlined an integrated support system designed to foster future exporters. He noted that the fund assists businesses across all stages of their establishment: "Damu is building an uninterrupted support pipeline spanning from micro-enterprises to strategic export projects, enabling the mitigation of financial risks at every stage. The fund's programs create the necessary conditions for entrepreneurs to scale up and enter export markets," he emphasized.
Currently, ECA and the "Damu" Fund are jointly developing risk reinsurance mechanisms for strategic projects, including major initiatives in manufacturing and the agro-industrial sector. Work also continues on co-supporting and accompanying export-oriented ventures.
The key focus of development institutions remains scaling up support volumes, further advancing pre-export financing, and refining export transaction guarantee mechanisms.
During the session, experts discussed opportunities to align support measures, mitigate risks, and leverage best international practices, drawing on the outcomes of the Berne Union Spring Meeting held in Astana earlier this year. Following the open discussion, actionable proposals were formulated to expand the scope of export support. These include further strengthening cooperation with second-tier commercial banks and continuing joint efforts aimed at achieving the strategic target indicators of the "Baiterek" Holding.
