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Kazakhstan's entrepreneurship dev't fund to unite efforts with WB in SMEs support

Business Materials 27 January 2021 17:58
Kazakhstan's entrepreneurship dev't fund to unite efforts with WB in SMEs support

BAKU, Azerbaijan, Jan. 27

By Nargiz Sadikhova - Trend:

Kazakhstan’s Damu Entrepreneurship Development Fund JSC and the World Bank signed a Memorandum of Understanding to support the development of entrepreneurship in Kazakhstan, Trend reports citing the WB.

The document was signed by Gaukhar Buribayeva, Damu Entrepreneurship Development Fund JSC Chairperson of the Managing Board, and Jean-François Marteau, World Bank Country Manager for Kazakhstan.

The Memorandum says that the parties intend to develop partnership in sectoral economic research, technical assistance, and to unite efforts to support micro, small and medium-sized businesses in the Republic of Kazakhstan.

Jean François Marteau noted during the signing ceremony that supporting small and medium-sized businesses is a critical element to support economic recovery from the COVID-19 pandemic around the world.

“We stand ready to support the Government of Kazakhstan, represented by the Fund, in implementing its national agenda of economic diversification and SME support and especially its elements related to SME financing,” he said.

In turn, Buribayeva noted that the Fund is interested in the World Bank’s wide and deep knowledge in applying the to design financing instruments and mechanisms, as well as in the implementation of joint projects that will have a beneficial effect on the country's economy during the COVID-19 outbreak and post-pandemic recovery.

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