"Baiterek" Holding will increase support for SMB projects

17.03.2020

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Today a meeting of the Government of the Republic of Kazakhstan in the online mode, in which the Chairman of the Board of JSC "NMH "Baiterek" Aydar Arifhanov spoke about the measures to support the Kazakhstan businessmen.

 

"Baiterek" Holding is a key operator of the Government in promoting and developing business in the country and is ready to support the initiatives of the Ministry of National Economy.

 

- To implement the proposals of the Ministry of National Economy subsidiary of the Holding Company - Entrepreneurship Development Fund "Damu" has all the necessary infrastructure. The "Damu" Fund has a branch network of 22 branches and regional centers in all regions of the country. The "Damu" Foundation has fully integrated the acceptance of subsidy and guarantee applications through the E-gov portal. In 2019, the Fund launched the Online Damu portal to translate all support measures provided in digital format., - informed the head of the Holding.

 

According to him, in 2020 the product line for the guarantee instrument will be expanded, providing for the guarantee of the Damu Fund for factoring, leasing operations, bank guarantees and so on.

 

It is also planned to improve the subsidy and guarantee instrument by including microfinance organizations (MFO) as a participant in the state program Business Road Map-2025 (BRM-2025) along with banks. This will significantly increase the reach of micro and small entrepreneurs.

 

- In order to stimulate lending to projects in agriculture, it is proposed to provide subsidized interest rates on loans (leasing) in the agro-industrial complex (AIC). The mechanism of subsidizing interest rates on loans (leasing) in the AIC is supposed to be implemented by analogy with the current mechanism within the framework of “BRM-2025”, - Aidar Arifkhanov explained.

 

The head of "Baiterek" holding reminded that it was planned to support 11.7 thousand SMB projects in 2020 using the previously allocated and own funds of the "Damu" Fund (1.1 thousand for the subsidy instrument, 1.6 thousand for guarantees, and for programs conditional placement - 9 thousand).

 

- Due to the allocation of additional funds by the Government, "Damu" Fund will support an additional 7.7 thousand SMB projects, including 5.8 thousand projects through conditional allocation mechanisms, 1.5 thousand projects through subsidizing tools and 400 projects through guarantee instruments, - he informed.

 

Meanwhile, according to him, to work in these areas will require additional capitalization of the "Damu" Fund, necessary measures will be taken in accordance with budget legislation.

 

- Thus, the allocation of additional funds and the implementation of the envisaged measures to support entrepreneurship is an urgent measure, which should contribute to the growth of the share of SMB in the coming years., - concluded Aidar Arifkhanov.