Kazakhstan’s Pavlodar to issue 370 microloans

Finance Materials 1 February 2019 20:50 (UTC +04:00)

Baku, Azerbaijan, Feb. 1

By Rashid Shirinov – Trend:

This year, Kazakhstan’s Pavlodar Region plans to issue 370 microloans as part of the implementation of the Five Social Initiatives of President Nursultan Nazarbayev, Trend reports referring to the Kazakh media.

Deputy Governor of the Region Aliya Arynova said at a meeting in the region’s administration that last year 2.2 billion tenge was allocated to issue 451 microloans to the residents of the region.

“Forty-three loans were issued in urban areas and 408 in rural areas. As many as 288 startups were financed, 87 loans were allocated for the development of vertical cooperation, and the rest went to expanding private businesses,” she said.

Thanks to this program, 439 self-employed people became engaged in entrepreneurship and 601 jobs were created.

This year, 543.7 million tenge is provided for residents of cities and 1.79 billion tenge for villagers. The loan amount can be up to 16 million tenge. The loan is issued for a period of up to 5 years at a 6-percent interest rate per annum.


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