The Rules for Granting State Guarantees to Support Export Have Been Approved.
The Minister of Finance approved the Rules for Granting the State Guarantee of the Republic of Kazakhstan to Support Export and the Forms of Its Provision by order dated June 24, 2025, reports Zakon.kz.
The State Guarantee of the Republic of Kazakhstan for export support is provided to the Export Credit Agency of Kazakhstan to ensure the repayment of its obligations to Kazakhstani and foreign insurers and beneficiaries for insurance and guarantee payments in the event of insurance and guarantee claims under insurance and guarantee contracts for which the Agency acts as the insurer.
To obtain the state guarantee, the Agency shall provide a positive opinion from the authorized body and a conclusion from the authorized body on budget policy.
To obtain the sectoral opinion, the Agency submits an application to the authorized body with the following attachments:
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Information on the state guarantee, including the amount of the state guarantee, its validity period, and the institutional framework for the use of the state guarantee (information about all participants in the process and their interactions);
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Information about the Agency, including copies of its founding documents, documents confirming the Agency’s status, the Agency’s development plan, and the rating report.
If the Agency fails to provide the specified documents, the authorized body shall reject the application without consideration within five business days.
The authorized body shall issue the sectoral opinion within 15 business days from the date the Agency submits the application.
In the event that the authorized body issues a negative sectoral opinion, the Agency’s application shall be rejected with reasons for the return indicated for further revision.
After addressing the reasons for the return, the Agency resubmits the documents to the authorized body.
Upon receipt of the complete package of documents, the authorized budget execution body shall conclude an Agreement with the Agency and its trustee (agent) within 20 business days.
It is stipulated that within 10 business days after signing the Agreement, the authorized budget execution body shall ensure the adoption of a government resolution on granting the state guarantee.
The state guarantee is provided by concluding a Guarantee Agreement in the form established for granting the state guarantee to support export.
The Guarantee Agreement is signed by the head of the authorized budget execution body and the Agency.
The Guarantee Agreement to support export is prepared in two copies in Kazakh and Russian, both having equal legal force.
It is stated that the funds allocated for fulfilling obligations under the state guarantee are subject to reimbursement to the republican budget by the Agency from the funds recovered from insurance and guarantee payments.
The form for granting the state guarantee of the Republic of Kazakhstan to support export is also approved.
The order comes into effect on July 8, 2025.
Source: www.zakon.kz
