Kazakhstan

Kazakhstan Dedicates US$24.6 Million in Recovered Assets to Social Initiatives

Kazakhstan Utilizes Recovered Assets to Fund Social Projects

The Asset Recovery Committee in Kazakhstan has allocated 12 billion tenge (US$24.6 million) from illegally acquired assets towards funding social projects. This initiative aims to benefit vulnerable groups and enhance community welfare.

As part of this effort, agreements have been signed with various entities to support specific projects. One such project involves the construction of a modern cultural center in Almaty, spanning over 3,000 square meters. This center will feature specialized and universal halls for exhibitions, education, and leisure activities. Additionally, it will provide free rehearsals and master classes for socially vulnerable groups.

Another significant project includes the development of a multi-story residential building in Shymkent. Upon completion, this building will be transferred to state ownership and allocated to vulnerable families in need of housing support.

Prior to these initiatives, the Kazakh government had already allocated funds from retrieved assets towards the construction of a sports complex in the Akmola Region and the renovation of a music school in the Turkistan Region. These projects reflect the government’s commitment to utilizing recovered assets for the betterment of society and the advancement of social welfare.

Through these efforts, Kazakhstan demonstrates a proactive approach towards addressing social needs and supporting marginalized communities through the utilization of resources obtained from asset recovery.

 

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