The purpose of the study is a theoretical and practical justification for building a mechanism for financing health facilities based on publicprivate partnerships from a pension fund in regions with environmental problems. The theoretical background is built on works of local and foreign authors on state and non-state pension provisions issues, pension funds’ assets management. This study provides an analysis of the health status of the population of the Kyzylorda region; it analyzes also the worldwide and Kazakhstan practice of investing pension funds and implementing projects. There has been legislative and methodological framework for financing health projects based on public-private partnerships in Kazakhstan. The scientific methods considered in this study made it possible to develop a mechanism for financial support for the modernization of a healthcare facility using the budget of pension funds. The authors point out possible risks in the implementation of projects in the field of healthcare and make recommendations on the construction a mechanism for financing healthcare facilities in the regions of Kazakhstan with environmental problems. In addition, they underline the key insights of the analysis, which are requisites for identifying the profitability of project for business and social effects for the public. Factors influencing efficacy, effect and implementation risks identified.

Abstract
1. Introduction
2. Literature Review
3. Research Methods
4. Analysis and Results
    4.1. Analysis of the Incidence of the types of Diseaseon the Population in the Kyzylorda Region
    4.2. Behavior of Pension System Assets ofKazakhstan.
    4.3. The Investment Mechanism of Interactionbetween the State and Business in theInvestment and Post-investment Periods
    4.4. Risk Management in FinancingModernization of Health Facilities througha Public-Private Partnership Mechanism:Identification and Prevention Measures
5. Conclusions
References

• Aigerim YESSENTAY(The joint educational program of Kazakh National University al-Farabi and Institute of Economics of the Ministry Education and Science of RK)
• Anel A. KIREYEVA(Institute of Economics of the Ministry of Education and Science of the Republic of Kazakhstan) Corresponding Author.
• Madina KHALITOVA(Institute of Economics of the Ministry of Education and Science of the Republic of Kazakhstan)
• Nazerke A. ABILKAYIR(KSPH, Almaty, Kazakhstan)