Government of Kazakhstan Uses Seized Illegal Assets for Social Initiatives
Kazakhstan Allocates Illegally Acquired Assets to Finance Social Projects
ASTANA – The Kazakh government has made a decision to allocate returned illegally acquired assets from the Special State Fund to finance two important social projects. These projects include the construction of a sports complex in Zerendi, Akmola Region, costing 2.1 billion tenge (US$4.3 million), and the renovation of a music school in Temirlan, Turkistan Region, worth 890 million tenge (US$1.8 million).
The sports complex in Zerendi will cover over 6,000 square meters and accommodate more than 80 people per shift. It will feature areas for wrestling, boxing, skiing, and two gyms, providing equipment and recovery amenities. This facility is expected to serve the region’s 14,500 active sports participants.
In Temirlan, the new art school will be able to accommodate 300 students. The current facility, which was built in 1974, is outdated and overcrowded, hosting 420 children and 45 teachers. The renovation of the music school will enhance the village’s arts education offerings, allowing children to study music and choreography in improved conditions.
The Special State Fund has accumulated 177 billion tenge (US$365.9 million), and all funds are dedicated to social and infrastructure projects, including healthcare, education, and sports development. The Asset Recovery Committee continues to return illegally acquired assets to the state.
These projects demonstrate the Kazakh government’s commitment to improving the quality of life for its citizens and investing in the future of the country through important social initiatives and infrastructure development.
