Damu fund to provide subsidized financing to SMES in Almaty
Damu Fund and Almaty city mayor’s office will assist the local food producers by providing loans at subsidized rates. Almaty city mayor’s office and Damu Fund will allocate one billion tenge for SMEs, engaged in the food industry within Damu Onim program. The funds will be allocated through the second-tier banks. Loans will be given for acquisition of new equipment and modernization as well as capital replenishment. The interest rate of these loans will be at 8.5% per year. Maximum loan amount cap is 100 million tenge. Grace period on repayment of principal loan is no longer than 18 months.