Kazakhstan discloses projects approved for financing within 'Almaty business-2025' program

Kazakhstan Materials 18 January 2021 20:36 (UTC +04:00)
Kazakhstan discloses projects approved for financing within 'Almaty business-2025' program

BAKU, Azerbaijan, Jan. 18


A briefing on the measures of financial support for entrepreneurs within the "Almaty business-2025" program was held at the site of the regional communications service in Kazakhstan, Trend reports with reference to Kazinform news agency.

Earlier, "Almaty Finance" credit organization was created within the regional business support program upon the initiative of governor of Almaty city Bakytzhan Sagintayev.

During the briefing, Deputy Chairman of the Board of Almaty Finance LLP Zangar Salimbayev said that the Almaty Finance company approved 42 projects for financing in the amount of 8.3 billion tenge ($0.019 billion). Some 26 of those projects have already received financing in the amount of 6.8 billion tenge ($0.016 billion). The projects worth 800 million tenge ($1.9 million) are being thoroughly considered. More than a hundred jobs will be created as a result of the implementation of projects.

The loans were used to implement the projects in various spheres. Among them are the opening of a new laboratory capable of carrying out more than 1,000 different research, the creation of a workshop for roasting coffee beans, the opening of a sewing workshop, the production of furniture and furniture accessories, metal products, stationery, hygiene products, the construction of an industrial park, as well as projects in the IT industry, organizing of e-payments and processing services, the creation of a three-component integrated system, etc.

The biggest number of the issued loans accounts for the projects of light industry - six projects, furniture industry - five projects, healthcare sector - for projects, education sector and sports - two projects.

"Almaty Finance" company was established within the "Almaty Business-2025" regional entrepreneurship development program in 2019. The company finances start-up and operating businesses registered only in Almaty.

Loans are issued in tenge at two percent per annum - for those who implement business in an industrial park with a maximum loan amount of 70 million tenge ($0.166 million); and six percent - with a credit limit of up to 500 million tenge ($1.188 million) for other spheres of business. The loan term is up to seven years, purpose is replenishment of working capital and investment goals.

The "Almaty Business-2025" regional entrepreneurship development program is aimed at creating favorable conditions for doing business, increasing the availability of financing, reducing administrative barriers, developing the infrastructure for small and medium sized enterprises (SMEs), training, supporting entrepreneurs and attracting investors.

The "Qoldaý", "Almaty Finance" business centers and "Almaty" microfinance organization were created within the program.