ORDER OF THE MINISTER OF FINANCE OF THE REPUBLIC OF KAZAKHSTAN

of June 30, 2025 No. 331

About some questions of the state, guaranteed by the state borrowing, guarantees of the state

According to subitems 4) and 5) Item 1 of Article 137, Item 7 of Article 138, with items 4 and the 8th Articles 139, items 4 and the 5th Articles 140, Items 5, the 6 and 11 Articles 141, Items 5 and 8 of Article 145 of the Budget code of the Republic of Kazakhstan, the subitem 2) Item 3 of article 16 of the Law of the Republic of Kazakhstan "About the state statistics", Item 3 of article 27 of the Law of the Republic of Kazakhstan "About public-private partnership" PRIKAZYVAYU:

1. Approve:

1) Rules of attraction of loans on behalf of the Government of the Republic of Kazakhstan, according to appendix 1 to this order;

2) Rules of issue of securities for the address in the domestic market by local executive body of area, city of republican value, the capital, according to appendix 2 to this order;

3) Rules of selection of investment projects for provision of the state guarantees, according to appendix 3 to this order;

4) Rules of provision of the state guarantees, according to appendix 4 to this order;

5) Rules of monitoring of financial condition of the borrower who obtained the loan guaranteed by the state and control of use of means of the loan guaranteed by the state, according to appendix 5 to this order;

6) Rules of provision of the guarantee of the state of the Republic of Kazakhstan, and also return of the funds of the republican budget allocated for obligation fulfillment according to the guarantee of the state according to appendix 6 to this order;

7) Rules of repayment and debt servicing of the Government of the Republic of Kazakhstan, purchase of the government securities issued by it in the organized market of securities, according to appendix 7 to this order;

8) Rules of repayment and debt servicing of local executive bodies, according to appendix 8 to this order;

9) Rules of monitoring of the state and guaranteed by the state debt, debt according to guarantees of the state, according to appendix 9 to this order;

2. To provide to department of the state borrowing of the Ministry of Finance of the Republic of Kazakhstan in the procedure established by the legislation of the Republic of Kazakhstan:

1) state registration of this order in the Ministry of Justice of the Republic of Kazakhstan;

2) placement of this order on Internet resource of the Ministry of Finance of the Republic of Kazakhstan after its official publication;

3) within ten working days after state registration of this order in the Ministry of Justice of the Republic of Kazakhstan submission to Department of legal service of the Ministry of Finance of the Republic of Kazakhstan of data on execution of the actions provided by subitems 1) and 2) of this Item.

3. To impose control of execution of this order on the supervising vice-Minister of Finance of the Republic of Kazakhstan.

4. This order becomes effective after ten calendar days after day of its first official publication.

It is approved Ministry of Justice of the Republic of Kazakhstan

It is approved Bureau of national statistics of the Agency on strategic planning and reforms of the Republic of Kazakhstan

It is approved National Bank of the Republic of Kazakhstan

It is approved Ministry of national economy of the Republic of Kazakhstan

Appendix 1

to the Order of the Minister of Finance of the Republic of Kazakhstan of June 30, 2025 No. 331

Rules of attraction of loans on behalf of the Government of the Republic of Kazakhstan

Chapter 1. General provisions

1. These rules of attraction of loans on behalf of the Government of the Republic of Kazakhstan (further – Rules) are developed according to item 4 of Article 139 of the Budget code of the Republic of Kazakhstan (further – the Budget code) and determine procedure for attraction of loans on behalf of the Government of the Republic of Kazakhstan.

2. In these rules the following concepts are used:

1) the program external loan – type of the external government loan attracted on financing of the program project;

2) the program project – set of actions of the external loans realized at the expense of the means aimed at the institutional development and also as the budget support within financing of deficit of the republican budget;

3) the institutional project – set of the actions aimed at the institutional development of industry (sphere), realized directly by the administrator of the budget program during the certain period of time, having complete nature and financed through the state borrowing by the conclusion of the loan agreement;

4) the borrower – the loan agreement party receiving means of loan which incurs obligations on repayment of principal debt and payment of remuneration, and also other payments according to the credit agreement. In case of government borrowing by the borrower the central authorized body on budget implementation acts. In case of non-state borrowing under the state guarantees, guarantees of the state by the borrower the legal entity – the resident of the Republic of Kazakhstan acts;

3. The central authorized body according to the subitem 4) of Item 1 of Article 137 of the Budget code determines amounts, forms and conditions of borrowing by the Government of the Republic of Kazakhstan, the amounts of repayment and servicing of government debt approved in the republican budget for the corresponding financial year by budget implementation.

4. Borrowing by the Government of the Republic of Kazakhstan on financing of local budget investment projects is not allowed.

Chapter 2. Procedure for borrowing of the Government of the Republic of Kazakhstan by release of the government issued securities

5. Release of the government issued securities in the domestic market are performed according to Item 6 of Article 139 of the Budget code.

Release of the government issued securities connected with placement in the foreign market of lending capital is performed according to the decision of the Government of the Republic of Kazakhstan.

At the same time, after placement of government securities in the foreign capital markets by judicial authority the legal conclusion about loan compliance to the legislation of the Republic of Kazakhstan is drawn up.

6. For release of the government issued securities on the international markets of the capitals it is performed:

1) the organization and holding actions for updating of credit rating of the country, to determination of the markets and partners of release of government securities for the purpose of attracting investors;

2) preparation of necessary documentation according to the requirements established for such transaction.

Chapter 3. Procedure for borrowing of the Government of the Republic of Kazakhstan by the conclusion of loan agreements

7. Borrowing of the Government of the Republic of Kazakhstan by the conclusion of loan agreements is performed for the purpose of financing of deficit of the republican budget:

1) for implementation of the budget investment projects;

2) for implementation of institutional projects;

3) for implementation of actions of state programs for the purpose of achievement installed indicators of the state program;

4) by direct receipt of funds of loan in the budget.

8. Attraction of the external loan on behalf of the Government of the Republic of Kazakhstan, except for external loans which means directly come to the budget is performed by the central authorized body on budget implementation on the basis:

1) the positive economic conclusion on the feasibility statement (further – the feasibility study) the budget investment project;

2) the approved feasibility study for the budget investment project

3) the approved financial and economic documentation for the institutional project;

4) the approved state program;

5) the positive decision of the republican budget commission on each project assumed to financing at the expense of the government external loan.

Copies of above-mentioned documents are represented by the interested state body to the central authorized body on budget implementation in 30 (thirty) working days prior to negotiation on loan.

In the decision of the republican budget commission sources of financing of the project assumed to financing at the expense of government external loans are established.

9. The external loans attracted as the budget support within financing of deficit of the republican budget do not require development of the program document and decision making of the republican budget commission.

10. Program external loans are implemented on the approved actions of the program document provided by the administrator of the budget program as a part of the budget request in the financial year preceding the first year of the beginning of implementations of actions, and containing list of actions and calculations for the entire period of project implementation, and also results of studying of feasibility and efficiency of actions with representation of examinations, stipulated by the legislation the Republic of Kazakhstan, and the economic conclusion of the central authorized body on state planning.

11. Program projects are implemented based on the program document approved by the administrator of the budget program.

12. The program document is developed by the administrator of the budget programs and contains list of actions and calculations for the entire period of project implementation, and also results of studying of feasibility and efficiency of the project which is carried out on the basis of the economic analysis of benefits and costs.

The program document is subject to industry examination and in case of need other examinations, stipulated by the legislation the Republic of Kazakhstan.

13. When borrowing by the Government of the Republic of Kazakhstan in the form of the conclusion of the loan agreement by the central authorized body on budget implementation together with the interested state bodies and the organizations performs preparation which includes:

1) the organization and negotiation with creditors on the project offered to financing, expected terms of loan;

2) preparation of the draft agreement of loan and related documents;

3) assessment of conformity of the draft agreement of loan of the feasibility study for the budget investment project, financial and economic documentation of the institutional project or state program.

14. Coordination of documentation on government loan is performed by the interested state bodies according to the legislation of the Republic of Kazakhstan.

15. Signing of the drawn-up loan agreement is performed according to the legislation of the Republic of Kazakhstan.

16. The loan agreement is subject to ratification by Parliament of the Republic of Kazakhstan according to legal acts of the Republic of Kazakhstan.

17. Signed loan agreements are subject to registration in the central authorized body on budget implementation.

By results of ratification of the loan agreement if it is provided by terms of the contract of loan, the judicial authority draws up the legal conclusion about loan agreement compliance to the legislation of the Republic of Kazakhstan.

18. The means received on external government loans are reflected in the republican budget and are used according to the procedure of its execution according to the Law of the Republic of Kazakhstan on the republican budget for the corresponding financial year.

19. The central authorized body on budget implementation performs accounting of means of external loans based on information provided without fail by administrators of the budget programs and based on information obtained from creditors.

20. The central authorized body on budget implementation together with the central authorized body on state planning performs monitoring of use of means of the projects financed by government external loans based on information provided by administrators of the budget programs and based on information obtained from creditors.

Provision of the reporting under the state external loans and joint financing from the republican budget is performed according to Item 5 of Article 139 of the Budget code and the Order of the Government of the Republic of Kazakhstan of June 17, 2025 No. 456 "About approval of Rules of submission of the reporting under the state external loans and joint financing from the republican budget".

Chapter 4. Procedure for projects implementation, financed by government external loans

21. Administrator of the budget programs:

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