Kursiv Research has gathered information about the recently created budget Infrastructure Development Fund, through which 1.5 trillion tenge from a targeted transfer from Kazakhstan's National Fund will be distributed. This was reported by Qazaqyia.kz citing Kursiv Media.
The history of the new budget fund, according to open sources, spans only a few months. While hearing Prime Minister Olzhas Bektenov's report on the results of Kazakhstan's socio-economic development and the government's work in the first half of the year on July 13, 2026, President Kassym-Jomart Tokayev instructed to "begin implementing a large-scale program for the construction of social and infrastructure facilities."
"This program is intended to ensure a significant improvement in the quality of life of citizens in all regions of the country in the near future. Special emphasis will be placed on the construction of modern healthcare facilities," the official Akorda statement said.
Two weeks later, the government created the Infrastructure Development Fund (IDF): on July 30, 2026, the Cabinet adopted Resolution No. 676 "On measures for the accelerated development of the economy," in which it mentioned the new budget fund in paragraph 4.
The context of the mention is unknown, since the resolution was classified as "for official use," and its existence became known from a published order of the Minister of Finance dated 11.08.2026 with rules for financing, use of funds, and monitoring of the IDF.
According to this document, the IDF is a control account of cash in the state treasury, to which budget funds are credited and from which they are spent. The source of IDF revenues is the National Fund of Kazakhstan and "other revenues not prohibited by Kazakhstan's legislation."
The use of National Fund resources is a common practice of the Kazakh government: according to National Fund statistics, over 25 years the government has not withdrawn funds from it through guaranteed and/or targeted transfers only in 2001–2006. Over the past 20 years, the National Fund has been an important source of state revenue, in some years providing up to 39% of total state budget revenues.
Details on the volume of National Fund resources were shared on August 25 by Deputy Prime Minister – Minister of National Economy Serik Zhumangarin, presenting the socio-economic development forecast for 2027–2029 (the document approved by the Cabinet has not yet been published): "to finance critically important facilities and projects of national importance," through a targeted transfer from the National Fund, the government proposed to withdraw 5 trillion tenge over the next three years – 2.0 trillion in 2027 and 1.5 trillion each in 2028 and 2029.
However, it is quite possible that not the entire volume of the targeted transfer will go to the IDF. "The Head of State instructed to ensure priority financing and accelerated start of construction of infrastructure and social projects with high expected socio-economic impact, including hospitals, children's rehabilitation centers, cultural and sports facilities, and others – at the expense of IDF funds in the amount of 1.5 trillion tenge. The expected result is expanded access of the population to quality healthcare and education, strengthening human capital, and improving the quality of life in the regions," according to the response of the Ministry of National Economy to a request from Kursiv Research.
The total period over which the 1.5 trillion tenge will be spent is not specified, but the IDF usage rules indicate that the period for spending the fund's resources is the entire project implementation period.
Projects in the IDF are initiated by local and central government bodies. The package of documents includes design and estimate documentation or a feasibility study with conclusions of state expertise, cost calculations, and a land management project. The development of design and estimate documentation, feasibility studies, conducting expertise, and land allocation are carried out at the expense of local or republican budgets. The formed petition is considered by the departmental budget commission (DBC) of the relevant central body within five working days. A petition approved by the DBC is sent for further approval.
At the approval stage, the Ministry of National Economy issues a conclusion on the compliance of projects with selection criteria and state planning documents. Then the Ministry of Finance, based on petitions, forms a draft list of facilities within the available IDF funds. The final decision on approving the list and allocating money is made by the Republican Budget Commission (RBC). Within five working days after RBC approval, the list is sent to the Ministry of Finance, central government bodies, and local executive bodies to begin financing and monitoring.
The distribution of funds begins with the mandatory registration of civil law transactions in state treasury bodies. Money transfers are carried out through the digital system "Treasury-Client" as acts of completed work and invoices for payment are provided. The movement of funds occurs along the chain of control accounts of cash: from the IDF's CCA to the central body's CCA, then to the local body's or quasi-state company's CCA, and further to the contractor's special account. For projects, advance payment of up to 30% of the contract amount for the current financial year is allowed.
The spending of funds takes place under extended treasury support along the entire cooperation chain – from the general contractor to subcontractors and suppliers. Withdrawal of money from their procurement control accounts to bank accounts is limited to salary payments, utility payments, purchase of goods from domestic producers, and payment of margin. The final settlement is carried out after signing the facility acceptance act with the participation of the state auditor. Contractors' margins are paid to them as completed work is accepted.
As of the end of September, the government has already approved 133 projects worth 900 billion tenge for financing from the IDF. At the Ministry of Finance, Kursiv Research disclosed which sectors the funds will be directed to.
The total portfolio of 133 approved investment projects of the Infrastructure Development Fund is estimated at 900 billion tenge, with more than half of all funds concentrated in two sectors – transport infrastructure (266 billion tenge, or 30% of the total pool for 23 facilities) and healthcare (246 billion tenge, 27% for 30 facilities).