THE ORDER OF THE DEPUTY PRIME MINISTER - THE MINISTER OF NATIONAL ECONOMY OF THE REPUBLIC OF KAZAKHSTAN

of August 12, 2025 No. 78

About approval of Rules of subsidizing of rate of remuneration on the loans received by subjects of natural monopolies and also on the government securities issued by local executive bodies on the projects realized within the national project on upgrade of energy and municipal sectors

I ORDER:

According to subitem 33-2) of article 8 of the Law of the Republic of Kazakhstan "About natural monopolies" PRIKAZYVAYU:

1. Approve the enclosed Rules of subsidizing of rate of remuneration on the loans obtained by subjects of natural monopolies and also on the government securities issued by local executive bodies on the projects realized within the national project on upgrade of energy and municipal sectors.

2. To provide to committee on regulation of natural monopolies of the Ministry of national economy of the Republic of Kazakhstan in the procedure established by the legislation of the Republic of Kazakhstan state registration of this order in the Ministry of Justice of the Republic of Kazakhstan and its placement on Internet resource of the Ministry of national economy of the Republic of Kazakhstan after day of its first official publication.

3. To impose control of execution of this order on the supervising vice-minister of national economy of the Republic of Kazakhstan.

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

Approved by the Order of the Deputy prime minister – the Minister of national economy of the Republic of Kazakhstan of August 12, 2025 No. 78

Rules of subsidizing of rate of remuneration on the loans obtained by subjects of natural monopolies and also on the government securities issued by local executive bodies on the projects realized within the national project on upgrade of energy and municipal sectors

Chapter 1. General provisions

1. These rules of subsidizing of rate of remuneration on the loans obtained by subjects of natural monopolies and also on the government securities issued by local executive bodies on projects, the energy and municipal sectors realized within the national project on upgrade (further – Rules), are developed according to subitem 33-2) of article 8 of the Law of the Republic of Kazakhstan "About natural monopolies" and determine procedure for subsidizing of rate of remuneration by the loans obtained by subjects of natural monopolies and also by the government securities issued by local executive bodies on projects, the energy and municipal sectors realized within the national project on upgrade.

2. In these rules the following basic concepts are used:

1) information system – electronic platform of purchases of the national project on upgrade of energy and municipal sectors;

2) the agreement of bank loan / loan agreement – the written agreement signed between bank of the second level / joint-stock company "Development Bank of Kazakhstan" / international financial institution and the borrower under the terms of whom the loan (credit) is granted the borrower;

3) banks of the second level – the banks of the second level of the Republic of Kazakhstan having the corresponding license for carrying out banking and other activities, including banking loan activities;

4) rate of coupon remuneration on the government securities issued by local executive bodies – the amount of coupon remuneration expressed as a percentage which is determined and created by the bondholder and subject to payment on periodic basis to the bondholder for use of the money received by the issuer owing to placement of the bond;

5) Development bank of Kazakhstan – Development Bank of Kazakhstan joint-stock company, and also its affiliated leasing company determined according to constituent documents of Development Bank of Kazakhstan joint-stock company and the list approved by authorized body;

6) the financial agent – Kazakhstan Housing Company joint-stock company;

7) the financial operator – joint-stock company "National managing holding "Bayterek";

8) the tariff regulator – authorized body in the sphere of regulation of natural monopolies;

9) the borrower – the subject of natural monopoly obtaining loan (the credit or bond financing) for financing of projects on upgrade and (or) construction of energy and municipal infrastructure conforming to requirements of the national project on upgrade of energy and municipal sectors;

10) subsidizing of the borrower – the form of the state financial support of the borrower used for partial expense recovery, to banks of the second level and (or) the international financial institution paid by the borrower and (or) Development Bank of Kazakhstan joint-stock company as remuneration on loan (credit);

11) the creditor – the local executive body of area, city of republican value or the capital performing release of government securities within implementation of the National project and granting loan to the borrower;

12) loan (credit) – the money provided by banks of the second level and (or) Development Bank of Kazakhstan joint-stock company and (or) international financial institutions and (or) local executive bodies based on the agreement of bank loan / loan agreement to the borrower for project implementation on the conditions determined by the National project on upgrade of energy and municipal sectors and these rules;

13) bond financing – the money raised by the creditor by release of government securities, intended for the subsequent provision of loan to the borrower within implementation of the National project;

14) the loan agreement within bond financing – the contract signed between the creditor and the borrower, determining conditions of provision, use, servicing and repayment of loan within implementation of the National project;

15) the order of bond issue – the document determining conditions, amount and purpose of issue of securities by local executive body of area, city of republican value, the capital according to Item 5 of Article 140 of the Budget code of the Republic of Kazakhstan;

16) the electronic request for subsidizings – the statement on subsidizing of loan (credit) in which information is provided in electronic and digital form and is certified by means of the digital signature;

17) subsidies – the budgetary funds of the republican and (or) local budget provided on non-paid and irretrievable basis for partial compensation of rate of remuneration on the loans received by subjects of natural monopolies by means of transfer of the specified means to the financial agent and also for partial compensation of coupon remuneration on the government securities issued by local executive bodies by means of transfer of the specified means to the relevant local executive body within implementation of the National project;

18) the technical operator – the legal entity with absolute participation of the state in the authorized capital determined by the Government of the Republic of Kazakhstan as the technical operator in the sphere of the housing relations and housing and communal services of the national project on upgrade of energy and municipal sectors;

19) the subject of natural monopoly – the individual entrepreneur or the legal entity providing to consumers regulated services;

20) the payment schedule – the payment schedule on repayment of principal debt, amount of remuneration, including the subsidized amount of remuneration which is integral part of the agreement of bank loan / loan agreement and the standard agreement of subsidizing on loans/agreements of subsidizing within bond financing;

21) authorized body – the central executive body performing management and cross-industry coordination in the sphere of the housing relations and housing and communal services, the central executive body performing management and cross-industry coordination in the field of power system and the state body performing management in the field of power industry;

22) National project – The national project "Upgrade of Energy and Municipal Sectors" approved by the order of the Government of the Republic of Kazakhstan of December 25, 2024 No. 1102;

23) international financial institutions – the organizations created on the basis of the international agreement between the states for the purpose of assistance to development of the international financial cooperation, provision of financial resources for support of economic development, and also implementation of other functions connected with the international financial transactions;

24) electronic document package – the documents which are completely reproducing type and information (data) of the authentic document in electronic and digital form including the documents certified by the digital signature of the applicant;

25) the issuer – local executive body of area, the cities of republican value, the capital;

26) the agreement of subsidizing on the government securities issued by local executive bodies on the projects realized within the national project on upgrade of energy and municipal sectors – the agreement signed between authorized body and the issuer under the terms of whom the authorized body subsidizes rate of coupon remuneration on the government securities issued by the issuer according to the legislation of the Republic of Kazakhstan;

27) subsidizing of rate of coupon remuneration on the government securities issued by local executive bodies, the energy and municipal sectors realized within the national project on upgrade – compensation of part of the expenses paid by the issuer to the bondholder within bond financing;

28) the agreement of subsidizing of rate of remuneration on the loans obtained by subjects of natural monopolies on the projects realized within the national project on upgrade of energy and municipal sectors – the agreement of subsidizing of rate of remuneration on the issued loans (credits) banks of the second level and (or) Development Bank of Kazakhstan joint-stock company and (or) international financial institutions to subjects of natural monopolies for the purposes of upgrade and construction of energy and municipal infrastructure based on which periodical payments of subsidies for the budget account for partial compensation of rate of remuneration on loan (credit) obtained by the borrower are performed;

29) the digital signature – set of electronic digital symbols created by means of the digital signature and confirming reliability of the electronic document, its accessory and invariance of content.

Chapter 2. Procedure for subsidizing of rate of remuneration on the loans obtained by subjects of natural monopolies on the projects realized within the national project on upgrade of energy and municipal sectors

Paragraph 1. Procedure for subsidizing

3. Receiver of subsidies are the borrowers enabling at the expense of loans (credits) projects implementation on the conditions provided by the National project and to these rules.

4. Subsidies are provided for reduction in cost of interest rates for loans (credits) of subjects issued by banks of the second level and (or) international financial institutions and (or) Development Bank of Kazakhstan joint-stock company (further – BVU and (or) IFI and (or) JSC BRK, and also its affiliated leasing company, determined according to constituent documents of JSC BRK.

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