A Meeting ‘Symbolizing the Unity of the State with Those Driving the Economy.’

On February 7, the founder of the Halyk charity foundation, Timur Kulibayev, took part in a meeting between the head of state and business representatives.

As the press service of Akorda notes, the meeting with the business community of Kazakhstan was held under the sign of the unity of the state with those who are developing the economy.

‘Without large businesses, it is impossible to fully unlock the potential of Kazakhstan’s economy. We need breakthrough large-scale projects — whether in infrastructure, industry, or digitalization — to take the development of Kazakhstan’s economy to a new level. It is entirely within the power of major entrepreneurs to launch them, as you have the necessary finances, personnel, and most importantly, knowledge and experience,’ — said President of Kazakhstan Kassym-Jomart Tokayev in his speech.

The Role of Private Foundations in Overcoming Crises

Summing up, the Head of State once again thanked all the entrepreneurs who provided financial assistance in overcoming the consequences of last year’s floods.

As is known, the Halyk Foundation of Timur and Dinara Kulibayev has allocated 85 billion tenge since 2016 for the implementation of more than 120 charitable projects.

In 2024 alone, the Fund allocated a record 35.5 billion tenge, of which 31 billion tenge, in response to the Head of State’s call to support the citizens of our country, was allocated to help flood-affected regions, including Kulsary, Atyrau, Aktobe, West Kazakhstan and Kostanay regions.

“I deeply sympathize with the people affected by the flood. From the first days, we have been providing assistance to the regions affected by the floods. I am convinced that under the leadership of our President Kassym-Jomart Kemelevich Tokayev, we will overcome all difficulties together,” Timur Kulibayev said in the spring of 2024.

This aid became not just financial support, but a symbol of revival. The fund’s funds helped restore housing, infrastructure and restore hope to thousands of families.

One of the striking examples was the project to build 400 apartments in Astana for families in critical situations, as well as the opening of a kindergarten for 280 children in the village of Auliekol – an important event after the devastating fires of 2022.

Private foundations as a link between business and government

Private foundations play a key role in the development of society, demonstrating the close relationship between business and the state. Charitable initiatives allow for a prompt response to emergency situations – natural disasters, pandemics, economic crises – and provide assistance where it is most needed.

By investing in infrastructure projects, sports and educational programs, private funds contribute to economic development, create new jobs and stimulate innovation. This reduces the burden on the state budget and promotes sustainable economic growth.

Thus, private charitable foundations perform not only a social but also a strategic function, strengthening the economy, supporting society and creating a balance between the state and business. Their activities are not only a manifestation of social responsibility, but also an important factor in the sustainable development of the country.a