Kazakh holding finances 12 projects

Kazakh holding finances 12 projects

Baku, Azerbaijan, Sept. 15

By Elena Kosolapova - Trend:

The Baiterek Holding's group of companies launched and funded 12 projects with a high level of redistribution in the manufacturing sector through a loan worth 491.7 billion tenge from June 1, 2014 to July 31, 2015.

Some 466 billion tenge was invested in the non-primary sector. The Holding's share in the long-term financing of the non-primary sector for the reporting period was 68 percent.

Some 925 projects worth 172.8 billion tenge (of which 119.1 billion tenge was allocated for the lending of new projects; 32.5 billion tenge - to refinance the loans; 21.2 billion tenge - for the working capital) were supported through 200 billion tenge allocated by the National Fund for the small and medium businesses.

Some 1,694 projects worth 181.5 billion tenge were subsidized and 390 loan guarantee agreements worth 14.4 billion tenge were signed.

During the reporting period the Holding's subsidiaries kept 45,437 current positions and created additional 27,282 new full-time jobs (in total 72,719).

Some 57 cooperation agreements were signed to build and commission 81 residential apartment complexes, in total 7,171 apartments, 449,000 square meters as part of the assistance in solving problems of housing development to improve housing affordability through the Holding's subsidiary Housing Construction and Savings Bank (HCSB) and 43.7 billion tenge was transferred to the local executive authorities for 6,191 purchased apartments.

Additional agreements, under Kazakhstan's Mortgage Company (KMC), were signed on 58 areas totaling 610,200 square meters (or 10,684 apartments) in the amount of 95.5 billion tenge. Some 46 buildings, or 392,800 square meters (in total 6,686 apartments), in the amount of 61.6 billion tenge will be commissioned in 2015 in Astana, Almaty, Shymkent, Aktobe, Taraz, Karaganda, Kostanai, Kokshetau, Semey , Kyzylorda, Taldykorgan, Pavlodar, Ust-Kamenogorsk and Aktau.

In order to make the loan's interest rate in prioritized sectors of economy more affordable, the Holding has implemented the following supporting programs:

- An inter-bank lending program for large enterprises;

- An inter-bank lending program for small and medium enterprises;

- A program to support exporters and automakers;

- Financing of the projects stipulated by the State Program of Industrial-Innovative Development (SPIID) for 2015-2019.

Moreover, during the reporting period the Holding's group of companies attracted private investments in the economy's priority sectors. The volume of private investments for the period totaled $1.86 billion.

The Holding's group of companies accumulated 56,433 billion tenge as tax revenue to the budget during that period.

JSC National Managing Holding Baiterek was established by the decree of the President of Kazakhstan dated May 22, 2013.

The Holding's goals include the development and diversification of the economy, investment attractiveness, development of clusters and improvement of the corporate management system of its subsidiaries. The Holding includes: JSC Development Bank of Kazakhstan, JSC Investment Fund of Kazakhstan, JSC Housing Construction and Savings Bank, JSC Kazakhstan Mortgage Company, JSC KazExportGarant, JSC Entrepreneurship Development Fund Damu, JSC National Agency for Technological Development, JSC Kazakh Fund of Mortgage Guarantees, JSC KazynaCapitalManagement, JSC Baiterek Development, JSC Public Private Partnership Advisory Center. The Holding retains the ownership rights and usage of state packet of The Holding retains the ownership rights and use of state block of shares of its subsidiaries.

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follow her on Twitter: @E_Kosolapova

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