Kazakh Government Develops Anti-Crisis Measures to Support SMEs
The Kazakh government has developed a package of urgent anti-crisis measures to support small and medium-sized enterprises due to the imposed state of emergency in the country. Thus, the loan rate under the Business Roadmap 2025 and Economy of Simple Things programs will not exceed six percent, Kazakh Deputy Minister of National Economy Zhaslan Madiyev said at a press briefing. According to him, the industry restrictions have been removed from the Business Roadmap 2025 program in order to expand the categories of projects. It means that now any small and medium-sized business entity can apply for this program to get the concessional financing.
“The amount of credit support per entrepreneur has been increased to seven billion Tenge (nearly US$15.6 million). Under the government program, the lending for replenishment of working capital has been increased up to 500 million Tenge (nearly US$1.1 million). It will be issued on a renewable basis,” Madiyev said.
Deputy Minister Madiyev noted that the replenishment of working capital for trading entities will amount to up to 100 million Tenge (nearly US$224,000). The guaranteeing loan amount has been increased to 1 billion Tenge (nearly US$2.2 million). The guarantee amount will be no more than 50 percent. Loans up to 360 million Tenge (nearly US$807,000) will be covered by a guarantee of up to 85 percent of the loan size.