Kairat Kelimbetov, the Chief Executive of national welfare fund Samruk-Kazyna, has enthusiastically taken the opportunity to meet with our members at a very short notice.

An inspirational figure in Kazakhstani Government Mr. Kelimbetov delivered an incredible speech touching on various current issues and providing valuable insight into intricacies of the government and their plans to fight the current economic crisis and the expectations that he has from our students studying in the UK.

He briefly reviewed the history of the two seperate institutions Samruk and Kazyna and explained that the decision for their merger has been a deliberate intention of the President to reduce inefficiency and spending. The now fully functional and incredibly active organization became a primary tool for fighting the crisis and paving the way for a post-crisis environment.

Mr. Kelimbetov has described the reason for Kazakhstan's pitfall into the crisis has been the haphazard missallocation of massive banks' priorities, mainly focusing on real estate, as well as well-off citizens using the construction boom as a quasi-stock market. He revealed that the government has set aside 10 billion US dollars for the normalization of the market through the national fund and that Samruk-Kazyna has already set concrete plans to help real individuals heavily indebted by their morgage payments and loans. "Obviosly," he said, "you can't allow the people who are geniuenly hard working to fall into unrealistic debts."

The highlight of the informative meeting were the anti-crisis measures outlined by Mr. Kelimbetov - 4 billion set aside for the recapitalisation of banks as well as 1 billion US dollars set aside for mortgage subsidies. The government has also reduced the interest rates charged onto a consumer to 11-12% from 16-18% which should help first time buyers get on the property ledder, as well as kick start the property market again.

Our speaker has put an incredible focus on the future, saying that right now "it is most important to invest into a post-crisis environment and to build on the non-oil sectors of our economy." He revealed that the Chinese government has lent our country 10 billion USD for the reconstruction of our economy.

Jokingly he said "there is a lot of stereotypes of Chinese influence onto our country but the conditions of the loan are quite favourable to our future." After the meeting, Mr Kelimbetov allowed half an hour for questions.

Some questions raised were the "cluster" strategic development as well as further securitisation of Kazakhstani companies on UK and other stock markets. Mr Kelimbetov told the students that he was delighted to meet everybody and he invited the young talent to work for Samruk-Kazyna, he also provided the Association of Kazakhstani Students with valuable contacts in the organisation and encouraged people to apply for internships.

At the end of the meeting Mr. Kelimbetov was awarded with a souvenir which will hopefully remind him of this meeting with AKS!