Chair of the Board of Trustees of the Aurora-Ala Foundation (Kazakhstan) Svetlana Lavrova Speaks at the XXII Eurasian Capital Markets Forum

On 18 June 2026, the XXII Eurasian Capital Markets Forum was held in Borovoye, Kazakhstan. In her address at the event, Svetlana Lavrova, Chair of the Board of Trustees of the Aurora-Ala Foundation (Kazakhstan), Chair of the Management Board of the National Endowment Association of Russia, and Executive Director of the EUSP Foundation, highlighted the distinctive features of how the endowment mechanism is developing across the Eurasian region. She presented endowments as a universal instrument that operates on two levels. On the one hand, it is the only mechanism for systemic support of the nonprofit sector and universities, ensuring their strategic sustainability and independence. On the other hand, endowments are one of the key sources of "long money" in the economy, which is essential for structural investment and for strengthening the financial systems of the countries of the Eurasian region.

The expert provided an international overview covering the world's largest endowments, Japan's University Fund with its unique funding structure, and the practices of Indonesia, the UAE, and Singapore.

In her presentation, Svetlana Lavrova shared up-to-date data on Kazakhstan and Russia, confirming steady growth in both markets. She noted that, despite differences in regulatory models, the countries of the region show a common trend toward the institutionalization of endowments and their integration into national economic systems.

A separate part of the address was devoted to the government support measures required for the further spread of the endowment mechanism across Eurasia. Svetlana Lavrova stressed the importance of donation co-financing programs and tax incentives for donors, which have proven to be effective incentives in many countries. She also encouraged colleagues to consider unconventional approaches, in particular Japan's experience, where the endowment principal is formed in part through special repayable government loans. In conclusion, she noted that the further development of endowments in Eurasia requires systematic work to strengthen the expertise of professionals in the sector.