Over $100M to be allocated for rural business support in Kazakhstan

Business Materials 30 October 2019 19:23 (UTC +04:00)

BAKU, Azerbaijan, Oct.30

By Nargiz Sadikhova - Trend:

As of October 21, 2019 some 10,435 microloans worth 40 billion tenge ($102.9 million) have been allocated with the framework of second phase of Enbek state program, Trend reports with reference to the press office of Kazakhstan’s prime minister.

Within the framework of the second phase of Enbek program, Kazakhstan’s Ministry of Agriculture is providing leans and microloans for implementation of business projects in rural areas and small cities mainly via KazAgro subsidiary companies.

According to Kazakhstan’s Minister of Agriculture Saparkhan Omarov, the original sum allocated for 2019 from republican budget within the program was 44.7 billion tenge ($115 million) for 12,000 microloans. Additional 20 billion tenge ($51.4 million) for 5,000 microloans has been allocated in July of this year by Kazakhstan’s National Fund. The total value of funds allocated for the program is 64.7 billion tenge ($166.5 million) for 17,000 microloans.

He added that as of October 21, 2019, some 40 billion tenge were used to provide 10,435 microloans. The allocate funds have been directed at lending to animal husbandry, plant growing, non-agricultural types of business.

Another 43.2 billion tenge ($111.1 million) are being allocated for the next two years of program’s implementation, which will allow to annually implement 9,200 projects in animal husbandry, 297 projects in plant growing and 1,800 projects in non-agricultural sector.

The Enbek program is mainly aimed at active measures to promote employment: training, retraining, grants and loans. The program particularly targets socially vulnerable groups such as parents of multiple children and youth. According to the official statistics, through the Enbek state program, Kazakh unemployment could drop to 4.5 percent.


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