Government of Kazakhstan to increase volume of microloans to 62 billion tenge
As part of President Nazarbayev’s five social initiatives, the Government is planning to increase the volume of microloans to 62 billion tenge this year in order to promote the development of small and medium-sized businesses. According to entrepreneur Alexander Geiman, the president’s social initiatives provide a support for the rural population. The “Yrys” state program helped him start a commercial dairy farm and purchase 100 breeding cows of the Simmental breed. The entrepreneur has received 43.5 million tenge of loan from the government.
ALEXANDER GEIMAN, ENTREPRENEUR:
-The interest rate of the loans is low. That’s why I think that it would have been impossible for us to start a business without the government support. We just need to work well, do our best and strive to achieve good results.
Today, there are over 700 cattle including 100 breeding cattle in the farm. Over seventy cows are milked in the farm. They produce about 800 liters of milk a day. Half of the milk was given to the calves and the other half was delivered to the processing factory.
ANNA NEPOPUSHCH, FARM MANAGER:
- Every calf needs to drink six liters of milk a day. The rest of the milk is collected in a milk tanker and delivered to Petropavlovsk every other day.
In Kazakhstan, the “Yrys” state program has provided the government support worth 740 million tenge to twenty commercial dairy farms since 2014. Last year, microloans were provided to over 700 people for starting new businesses or expanding existing ones in the North Kazakhstan region. In 2018, the amount of microloans provided as part of the Productive Employment and Mass Entrepreneurship program has reached 1.7 billion tenge.