...

Funding of more investment projects being considered in Kazakhstan

Business Materials 3 October 2019 14:00 (UTC +04:00)

Baku, Azerbaijan, October 3

By Nargiz Sadikhova – Trend:

Development Bank of Kazakhstan (DBK) is considering the opportunity for financing of five investment projects, Head of DBK Abai Sarkulov said, Trend reports with reference to the press office of DBK.

This became known during the expanded meeting of akimat (administrative center) of Karaganda region, during which top management representatives of the largest development institutions of Kazakhstan, headed by Chairman of the Board of Baiterek National Managing Holding JSC Aidar Arifkhanov met with with entrepreneurs and representatives of local executive authorities of Karaganda region.

During the meeting, issues of small, medium and large-sized businesses development, as well as measures for activities intensification in regard to investment attraction and the region’s export potential development have been discussed.

The top management representatives of the companies told the entrepreneurs in detail about public support measures and the types of soft lending for business development and implementation of their projects they might have.

“The role of small and medium-sized businesses is determined by its contribution to the gross domestic product of the region. Thus, according to the results of the 1Q2019, the region takes the fourth place in terms of the contribution of small and medium business to gross regional product, which amounts to 954.7 billion tenge. There are over 88,000 representatives of small and medium-sized businesses carrying out their activities in the region, providing more than 236,000 jobs. DAMU Fund has supported 550 projects just in three cities, i.e. Jezqazghan, Satpayev and Balqash,” Gaukhar Buribayeva, the Chairman of the Board of DAMU Fund noted.

According to the information, DBK’s support for the development of the large-scale projects such as the expansion of the Qaraghandy HES-3, the construction of a mining and processing plant and a ferrosilicon plant, plays an important role for the region’s economy.

“However, we are not planning to stop on what has been achieved. Today, the Bank is considering the opportunity for financing of five investment projects,” Sarkulov noted.

---

Follow the author on twitter: @nargiz_sadikh

Tags:
Latest

Latest