Concessional financing of up to 20 million tenge will be available to micro and small businesses

Concessional financing of up to 20 million tenge will be available to micro and small businesses

A subsidiary of the Baiterek holding, the Damu Entrepreneurship Development Fund signed the first agreements with second-tier banks on portfolio subsidies and guarantees within the framework of the approved changes to the state program “DKB-2025” in the area of microcrediting.

According to the amendments, micro and small businesses can become participants in the program, without industry restrictions. The nominal interest rate should not exceed the basic interest rate established by the National Bank of the Republic of Kazakhstan and increased by 8.5 percentage points, the interest rate on a loan for an entrepreneur will be 6% per annum. The difference between the nominal rate and the final rate for the borrower will be subsidized by the state.

By the decision of the Government, the state through the Damu Fund carries out portfolio subsidizing of a part of the interest rate and partial guarantees for loans and microcredits, so the decision on the loan remains with the bank or microfinance organization, and the decision on subsidizing and guaranteeing the loan is of a notification nature.

The maximum amount on a loan to replenish working capital is no more than 5 million tenge with a subsidy period of up to 2 years. For investment purposes, the maximum loan amount is 20 million tenge with a subsidy period of up to 3 years. The limit for one borrower is 20 million tenge. The size of the guarantee of the Damu Fund is 85% of the loan amount.

It should be noted that portfolio subsidies are used for the first time in government business support programs and are aimed at micro and small entrepreneurs. Earlier, in the course of the implementation of the state programs "DKB - 2020" and "DKB - 2025", the Damu Fund gained a positive experience in applying portfolio guarantees with banks that signed framework agreements on the use of this financial support instrument.

- Portfolio subsidies and guarantees are convenient in that the decision to provide financing is made only at the level of a bank or microfinance organization. Thus, the stages and terms of consideration of an application for a loan are significantly reduced and, in general, the processes of providing support measures to entrepreneurs are optimized, - Gaukhar Buribayeva, Chairperson of the Board of the Damu Entrepreneurship Development Fund, commented.

The Damu Fund is actively working on signing framework agreements with second-tier banks and microfinance organizations. In the near future, micro and small entrepreneurs will be able to use preferential lending for their projects, information about banks and microfinance organizations participating in the program will be regularly published and updated on official Internet resources and in the media.

More news

of events


Didn't find
what you are looking for?

  • Официальный сайт Президента Республики Казахстан
  • Парламент Республики Казахстан
  • Официальный информационный ресурс Премьер-Министра Республики Казахстан
  • Официальный интернет-ресурс Министерства национальной экономики РК
  • Министерство промышленности и строительства Республики Казахстан
  • Electronic resources aimed at expanding the scope of the Kazakh language