The Future of Endowment Funds of Kazakhstan Discussed in St. Petersburg

On May 19-20, 2026, the "Eternal Endowments" Assembly took place in St. Petersburg, organized by the National Association of Endowments of Russia (NAE). It is one of the largest events in the field of endowment fund development and the promotion of philanthropic culture, annually gathering over 100 organizations from Russia and other countries, including universities, charitable foundations, government authorities, as well as representatives of the business community and the financial market.

During the plenary session of the Assembly, welcoming remarks were delivered by Aslan Kanukoev, Director of the Department of Economic Policy of the Ministry of Science and Higher Education of Russia; Elena Ivanitskaya, Deputy Director of the Department for the Development of the Social Sphere and the NGO Sector of the Ministry of Economic Development of the Russian Federation; and Andrey Rudskoy, Rector of the Peter the Great St. Petersburg Polytechnic University. On behalf of the Ministry of Science and Higher Education of the Republic Republic of Kazakhstan, the head of the delegation, Mira Tursumbayeva, welcomed the forum participants and spoke about the development of endowment funds in the country and their role in the transformation of science and university education. "Kazakhstan is developing a national academic model of university excellence. The year 2026 has been declared the Year of Digitalization and Artificial Intelligence in our country, which is why several large-scale state educational programs are currently being implemented. To achieve this, we need to strengthen the development of endowment funds, which will provide sustainable financing for universities and the advancement of science. Events like this contribute to long-term mechanisms for the mutual exchange of experience. The development of endowment funds in both countries is highly crucial, because investing in them is an investment in the future of the state," noted the representative of Kazakhstan.

A significant outcome of the plenary session was the signing of a memorandum of cooperation between the National Association of Endowment Funds of Kazakhstan and the National Association of Endowments of Russia. The document was signed by Farkhad Kuanganov, Chairman of the Management Board of the National Association of Endowment Funds of Kazakhstan, and Svetlana Lavrova, Chairwoman of the Management Board of the National Association of Endowments.

One of the key tracks of the forum was the discussion of the Kazakhstani experience in developing endowment funds. Within the framework of a special session dedicated to the development of endowment funds in Kazakhstan, participants showed a genuine interest in the growth prospects of this new sector following the adoption of the law "On Target Capital Funds and Endowment Funds (Target Capital)" in 2025.

The track was moderated by Evgeny Mokhovikov, Executive Director of the "Aurora-Ala" Corporate Fund, while Mira Tursumbayeva, Farkhad Kuanganov, Timur Makenov, and Sanzhar Seitkasimov, Managing Director of "Standard Investment Company" JSC, acted as experts.

The Study-In-Kazakhstan exposition generated particular interest in Kazakhstani universities among the participants. New opportunities for international students to study in Kazakhstan and academic mobility initiatives were presented by Astana International University, Asfendiyarov Kazakh National Medical University, Kulazhanov Kazakh University of Technology and Business, and "Astana Medical University".

The Assembly program included intense panel discussions, roundtables, and business meetings. The forum concluded with a closed expert session dedicated to digital finance and digital assets in fundraising and endowments. As part of the session, a strategic game simulating future scenarios for the charity market was conducted, with the participation of Kazakhstani management companies, Standard and Freedom Broker.

Participation in the "Eternal Endowments" Assembly was an important step for Kazakhstan in gaining international recognition for its significant progress in developing not only new mechanisms for sustainable financing of the social sphere, but also in modernizing science and higher education as a whole, in line with the best practices of the world's leading universities.