In June 2018, Silk Road Fund signed a memorandum of understanding on strategic partnership with Astana International Financial Centre and a framework agreement with Astana International Exchange to subscribe for a portion of common shares through China-Kazakhstan Production Capacity Cooperation Fund Co., Ltd., a wholly owned subsidiary of Silk Road Fund.
The cooperation is expected to help better align China's Belt and Road Initiative with Kazakhstan's new economic policy Nurly Zhol (Bright Path), strengthen the China-Kazakhstan bilateral ties in key areas, advance Kazakhstan's financial reforms and the development of its capital market, and provide incentive for Kazakhstan's social and economic progress. It will also allow Silk Road Fund to leverage its financial expertise to boost the two countries' cooperation in production capacity through financial partnerships. The subscription of common shares in Astana International Exchange by Silk Road Fund will be the first investment made by China-Kazakhstan Production Capacity Cooperation Fund Co., Ltd.
Astana International Financial Center is a financial free zone established in Astana, the capital city of Kazakhstan, following an order of President Nursultan Nazarbayev in June 2015, with the Astana International Exchange being one of the free zone's core elements. The China-Kazakhstan Production Capacity Cooperation Fund Co., Ltd., with a size of USD 2 billion, is solely sponsored by Silk Road Fund and supports projects promoting cooperation in production capacity and investments in other relevant areas between China and Kazakhstan.
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