BAKU, Azerbaijan, January 6. Young entrepreneurs in Kazakhstan will be eligible to receive up to 5 million Kazakh tenge (around $10,750) in soft loans for establishing or expanding their business activities, Trend reports, citing the press service of the Ministry of Labor and Social Protection of Population of Kazakhstan.
According to the statement, the annual interest rate will not exceed 2.5 percent.
The loans will be granted for a term of 5 years, however, entrepreneurs in the field of animal husbandry will receive loans for 7 years.
There is also a grace period for repayment of the principal debt and remuneration, which cannot exceed one-third of the duration of the microcredit term.
Only candidates between the ages of 21 and 35 will qualify for the loan program.