Kazakhstan recovers $1 billion in assets, eyes $10.5 billion in investment

On April 14, Astana hosted a meeting of the governmental commission on the return of illegally acquired assets, chaired by Prime Minister Olzhas Bektenov. During the session, officials announced the total amount of assets already returned to the national budget.

According to the government, the commission has approved new agreements on the voluntary transfer of assets. As a result, the country’s special state fund will receive an additional $290 million. Moreover, individuals and entities affected by the asset recovery law have pledged to invest $10.5 billion into Kazakhstan’s economy.

So far, nearly $1.2 billion has been recovered and returned to the treasury. About $970 million of that total is in cash, while the remaining amount consists of property valued at nearly $200 million.

The recovered funds have been allocated to the construction and renovation of 280 social facilities, including schools, hospitals, sports centers, social support institutions and municipal infrastructure improvements.

Previous reporting by Kursiv.media highlighted the Light Rail Transit (LRT) case, a major public transportation project in Astana that faced significant financial, legal and operational setbacks. As part of the investigation into the case, 40 facilities worth approximately $1.7 million were recovered and returned to the state.