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Lending to small businesses in Kazakhstan continues to fall

Finance Materials 22 January 2019 12:17 (UTC +04:00)

Baku, Azerbaijan, Jan. 22

By Rashid Shirinov – Trend:

The volume of lending to small businesses in Kazakhstan in November 2018 decreased by 15.7 percent year-on-year to 2.4 trillion tenge, Trend reports referring to Ranking.kz.

The decline continues for the second year in a row.

Among the regions of Kazakhstan, three megacities are leading in terms of small business lending: Almaty (1.3 trillion tenge), Astana (374.3 billion tenge) and Shymkent (82.1 billion tenge). İt should be noted that the volume of loans to small businesses decreased in Almaty and Astana.

The number of active small companies in Kazakhstan in November 2018 reached 155,900, which is 15.1 percent more year-on-year.

The average debt loadof a small company is 15.5 million tenge. Almaty accounts for 23.3 percent of all active companies, which is 17.4 percent more year-on-year. The average debt load of a small active company in the city is 35.8 million tenge.

It should be noted that the Damu Fund provides significant support to small businesses in Kazakhstan. The Fund's plans for 2019 include the attraction of up to 71 billion tenge of funds to develop small and medium-sized business and support 14,600 projects.

(378.78 KZT = 1 USD on Jan. 22)

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Follow the author on Twitter: @ShirinovRashid

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