The first meeting of the Advisory Board of the Kazakh-Hungarian private equity fund took place in Astana on 31 March 2016.

In December 2015, KazAgro and Hungary’s Eximbank established the Fund with the goal to finance agricultural projects in Kazakhstan.

A total of USD 40 million has been set aside; 50 percent is controlled by Hungary and 50 percent by Kazakhstan. At the same time, the fund plans to attract additional USD 100 million from the local and foreign investors for the immediate implementation of the projects. The Fund will invest in the agricultural sector and the food industry in the field of processing, storage and logistics.

The Fund has created an opportunity for Hungary to transfer Hungarian and Western technologies and knowhow to the Central Asia region.