On December 14, 2015, in the presence of Chinese Premier Li Keqiang and Kazakh Prime Minister Karim Massimov, the Silk Road Fund and KAZNEX INVEST JSC signed in Beijing the Framework Agreement on the Establishment of China-Kazakhstan Production Capacity Cooperation Fund. The Silk Road Fund will invest US$2 billion in establishing the China-Kazakhstan Production Capacity Cooperation Fund to support the production capacity cooperation between China and Kazakhstan and project investments in relevant areas. Under the China-Kazakhstan Production Capacity Cooperation Fund, the projects will be recommended by both parties while Kazakhstan will be responsible for implementing relevant national preferential policies and assisting parties concerned in solving problems encountered during their cooperation to ensure the smooth implementation of the projects. Under the China-Kazakhstan Production Capacity Cooperation Fund, the Silk Road Fund will actively contact financial institutions and companies in Kazakhstan to seek cooperation. The two parties will work closely together to align the Silk Road Economic Belt Initiative with Kazakhstan’s new economic policy of the Bright Road to achieve common development and prosperity.
Founded in December 2014 as a medium to long-term development and investment fund that follows the investment philosophy of "mutual benefit, openness and inclusiveness", the Silk Road Fund conducts business based on market principles, international practice and professional standard to serve the Belt and Road Initiative. The China-Kazakhstan Production Capacity Cooperation Fund is the first special fund since the Silk Road Fund’s establishment.
KAZNEX INVEST JSC, a major development institution in Kazakhstan, is under the Ministry for Investment and Development of Kazakhstan, the initiator for the production capacity cooperation between China and Kazakhstan.