OREANDA-NEWS. January 28, 2011. Kairat Kelimbetov, Chairman of Samruk-Kazyna, reported on the National Welfare Fund’s performance in 2010. He pointed out that in 2010 the Fund had completed the Government’s anti-crisis program, accommodating 91% of the KZT 1 trillion 87,5 billion allocated out of the National Oil Fund. Within the frameworks of the Program the Fund facilitated debt restructuring efforts at BTA Bank, Alliance Bank and Temirbank.

As a result, the banks’ external debts have been reduced respectively from USD 12 billion to USD 3,7 billion; from USD 4,5 billion to USD 1,16 billion; and from USD 770 million to USD 61 million.

In the real estate sector, KZT 200 billion tenge was allocated to complete residential quarters pre-paid by owners-to-be [construction of these was suspended after the construction industry was hit by the global financial crisis] under a program supervised by Samruk-Kazyna. 52 residential complexes have been completed, allowing 10336 owners to move into their apartments. Another 43 residential complexes will be shortly completed.

Within the framework of the state-run program to support S&MBs, a total of 10537 projects worth KZT 513 billion were financed in 2007-2010. Over 19 000 jobs were created.