An Association of Endowments will be created in Kazakhstan
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  • 08 November 2023
  • 718

An Association of Endowments will be created in Kazakhstan

The III International Conference of Endowments, which brought together representatives from the CIS countries, was held at the L. Gumilev Eurasian National University.

The conference brought together representatives of government agencies, endowment funds and the financial sector, endowment funds and universities of Kazakhstan, Russia, Kyrgyzstan, Uzbekistan, Tajikistan.

The participants discussed the state and prospects of development of endowment funds in Kazakhstan, the role of government agencies in supporting and regulating their activities, innovations and technologies in asset management of endowments, and also reviewed the experience and practice of endowment funds in the CIS countries.

Special attention was paid to the activities of endowment funds thanks to a detailed report by Svetlana Lavrova, Chairman of the Board of the Russian National Endowment Association, on the successful principles of fundraising and the effective functioning of Endowment associations.

Advisor to the Minister of Science and Higher Education of the Republic of Kazakhstan Farhad Kuanganov noted that the international experience of all countries with existing endowments was studied during the preparation of the bill.

Director of the Korkyt ata Endowment Corporate Fund Marzhan Bazarkhanova took part in the event on behalf of the Korkyt Ata Kyzylorda University. It is worth noting that this year marks two years since the start of the Corporate Fund "Korkyt ata endowment". 

The results of the conference contribute to improving the quality of money management in non-profit organizations, as well as expanding opportunities for sustainable development and effective fundraising. A draft law "on Endowment funds" will also be prepared.

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Marzhan BAZARKHANOVA
Director of the Korkyt ata endowment Corporate Fund

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