Kioge-2022
What is Chevron Direct Investment Fund and How it functions?
Chevron Direct Investment Fund Ltd. (CDIF) is Chevron’s investment vehicle to support Kazakhstan’s economy by investing into commercial local enterprises across various industries, including but not limited to manufacturing, works and services in oil and gas industry, environmental stewardship, information technologies, including digital technologies. The fund is valued at $248.5 million.
Goals, objectives and history of creation
On October 11, 2021, the Ministry of Energy of the Republic of Kazakhstan and Chevron signed a Memorandum of Understanding as part of establishment work of Chevron Direct Investment Fund Ltd.
Later in December 2021, Chevron announced the launch of a website – www.cdif.kz – which has been created with the purpose of informing the Kazakhstani business community about CDIF and ensuring transparency of the application process for funding and selection of investment projects. The web-portal enables potential project companies to apply and submit the required project documentation for funding online.
On June 29, 2022, Chevron officially presented the CDIF to the public during Astana Finance Days – a regional platform for professional discussion to build effective financial and economic solutions.
CDIF is registered in the Astana International Financial Centre (AIFC) in Nur-Sultan. AIFC’s independent regulatory framework and legal system, simple tax regime, arbitration procedures, international expert availability, and common objective of stimulating Kazakhstan’s economic growth provides the most efficient financial platform for Chevron to invest into local enterprises.
CDIF’s mission is to make a significant positive impact to economic development in Kazakhstan through investment in attractive commercial enterprises. We see delivering positive and transparent economic development and long-term impact on performance of the enterprises, communities, and environment as one of our main objectives.
CDIF’s intent is to impact and encourage economic development via enterprise development, job creation, transfer of skills and technologies, growth in sales and purchases, support of strategic initiatives, multiplier of direct, indirect & induced impacts and others.