Kazakhstan recovers 40bln tenge of illegally acquired assets

The Commission on the Return of Illegally Acquired Assets has held its regular session chaired by Prime Minister Olzhas Bektenov, Kazinform News Agency reports.

The Commission approved the agreements on voluntary return of illegally acquired assets to the total amount of 40 billion tenge. Cash comprises 38 billion of this amount. There is also a business center in Astana worth 2 billion tenge, the press service of the Kazakh Government says.

The assets returned will be spent on social projects including flood-relief efforts.

The Commission also approved investment agreements worth 7 billion tenge under which two infrastructure projects will be built in Astana and Shymkent as per the Law “On return of illegally acquired assets.” The implementation of these projects will let create jobs and ensure additional inflow of tax revenues.

“The work on return of assets is a direct implementation of the President’s policy on restoration of social fairness. All returned funds will be used for the benefit of Kazakhstan," said Bektenov.