The Damu Entrepreneurship Development Fund, a subsidiary of Baiterek Holding and the main state financial institution, recently opened a new office in the town of Konaev, Almaty region. The opening ceremony was attended by Akim of Almaty region Marat Sultangaziyev and Chairman of the Board of Baiterek Holding Kanat Sharlapayev, who emphasized the importance of developing mass entrepreneurship in the region.
– By opening a new branch, the Damu Entrepreneurship Development Fund aims to support the further development of mass entrepreneurship. This sector has the potential to create a multiplier effect in regional development, as even micro-organizations can grow into small and medium-sized enterprises in the future, – stated Kanat Sharlapayev.
Thanks to the programs implemented with the support of the Damu Fund in 2022, over 50,500 ideas of entrepreneurs were brought to life. The Fund supported 24,500 projects by subsidizing the interest rate on loans, 20,800 projects were guaranteed, and 5,200 projects were covered by the concessional financing mechanism. The total amount of loans exceeded 1.5 trillion tenge, with 63.3% of the funds being invested in new projects and modernizing existing industries in Kazakhstan.
Svetlana Nazaryuk, Director of the Damu Fund branch in the Almaty region, stated that the Fund accepts and considers the appeals of entrepreneurs, and their projects are financed by second-tier banks. The Fund subsidizes the interest rate to ease the burden of the loan. Since the beginning of the year, they have supported 130 projects in the Almaty region.
The new office of the Damu Fund will continue to support SMEs under the National Entrepreneurship Development Project for 2021-2025. The office is fully digitized, and entrepreneurs can call 1408 to receive the service online. The office plans to help finance over 1,500 projects by the end of the year.
The Almaty region is one of the most active users of the Damu Fund's services, and the new office aims to expand the number of its clients, helping to develop entrepreneurship at the regional level.