Baku, Azerbaijan, Dec. 22
By Elena Kosolapova – Trend:
Kazakhstan’s state-owned Damu Entrepreneurship Development Fund will attract a $200-million loan from Asian Development Bank (ADB) to support micro, small and medium enterprises.
The Board of Directors of Damu Fund has approved the borrowing, the Fund said Dec. 22.
The loan will be provided in tenge and will be issued under the state guarantee of Kazakhstan’s Government. It will be provided to enterprises through Kazakh second tier banks and microfinance organizations for acquisition and modernization of assets, refinancing of existing loans, increasing circulating capital.
Some 2,850 micro, small and medium enterprises are expected to be financed with this loan.
Since joining ADB in 1994, Kazakhstan has received around $4.9 billion in sovereign and non-sovereign loans, and guarantees for agriculture and irrigation, education, finance, transport, water supply and sanitation sectors.