Kazakhstan government to additionally allocate 160 billion KZT to support small and medium business

Astana. June 30. Kazakhstan Today - Kazakhstan government will additionally allocate 160 billion KZT to support small and medium business. The Prime Minister of Kazakhstan Karim Masimov informed at the government session in Astana on Saturday, the agency reports.

According to the Prime Minister, the allocated resources will be distributed in three directions to credit subjects of small and medium business located in Almaty and Astana. Kazyna fund will additionally allocate 50 billion KZT.

"50 billion KZT will be provided by the banks of the second level," the Prime Minister informed. Total rate of crediting will make about 12.5 % as compared to the current 22 %," K. Masimov noted. "It is a very considerable contribution," he emphasized.

The second direction of financing of small and medium business is co-financing of the republican and local budgets. "2 billion KZT will be allocated from the regional budgets and 2 billion KZT for each oblast from the republican budget. Thus, additional 56 billion KZT for crediting of small and medium business will be directed to the regions," K. Masimov explained.

The third direction is allocation of 4 billion KZT for social-enterprise corporations to support the subjects of small and medium business. "Thus, in addition 160 billion KZT will be allocated for support of small and medium business," the Prime Minister concluded.

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