Baku, Azerbaijan, Oct. 26
By Ali Mustafayev – Trend:
Kazakh banks allocated 3.15 trillion tenge during the 9 months of 2017, to support small business of the country.
The level of credits allocated to the representatives of small businesses in Kazakhstan is 12.9 percent higher, compared to the same period of the previous year, Kazakh Energy Prom reported.
The largest volume of credits for small businesses is concentrated in Almaty – 47.6 percent (1.5 trillion tenge). Astana ranks second with 30.3 percent (953.3 billion tenge) from the total amount of small business credits.
Reliable credit support for small business is stimulated by various state programs - for instance, subsidizing loans, as well as loan guarantees from the "Damu" Enterprise Development Fund, within the Business Road Map of the country.
The "Program for the Development of Productive Employment and Mass Entrepreneurship" has also been launched this year, with participation of “Damu” and the “Agrarian Credit Corporation” as the operators for subsidizing small business lending.
The credit activity of the sector, in turn, develops the business activity of small companies. The number of working small companies reached 136.100 in September 2017, which is 10.9 percent more, compared to the same period of 2016.
(Exchange rate: $1 – 332.94 tenge)