President of Kazakhstan Kassym-Zhomart Tokayev spoke at the final meeting of the State Commission on the State of Emergency and gave a number of instructions to the Baiterek holding to provide support to the population and business.
"Baiterek" Holding, being a key operator of the Government to promote and develop business in the country, as well as provide affordable housing for the population, has proved to be an effective anti-crisis tool during the emergency.
Обеспечение населения доступным жильем
The head of state noted that the construction of affordable housing should be a powerful incentive for economic development, employment growth and a factor of social support.
"Initiated Elbasy program "7-20-25" gave a big boost to mortgage lending and housing construction. To solve the waiting list issues, I instruct you to launch a new project on providing credit housing “5-10-20”. For these purposes, within the framework of anti-crisis funds, we will send 390 billion tenge”, - President stressed.
According to him, this year a record volume of construction is planned in the country - 15 million square meters or 150 thousand apartments and houses. Kassym-Zhomart Tokayev notes the importance of continuing work to improve the living conditions of our citizens. In fact, the Head of State believes, this is one of the strategic directions of the Government.
“To do this, we have to modernize the institutional structure. By the end of the year, the government should create, on the basis of JSC "Housing Construction Savings Bank of Kazakhstan", a full-fledged development and support institution - "Otbasy Bank", which will centrally record, set up and distribute housing”, - President stressed.
Since the beginning of the year, HCSB investors have collected 145 billion tenge on their deposits. Since the beginning of the year, 102,072 new savings accounts have been opened. Such a demand for deposits is explained by the availability of loan rates, which in the future customers of the bank can take at fixed rates in tenge. Accumulating funds for deposits on deposits, bank customers receive loans for the purchase of housing at interest rates from 2% to 8.5% per annum. Since the beginning of the year, 8,661 HCSB clients have already taken advantage of this opportunity.
At present, the loan portfolio of the HCSB is equal to 1,032 trillion tenge. In total, the bank has 160,500 active loans. Housing Construction Savings Bank fulfilled all planned targets laid down at the beginning of the year by 100%. Moreover, the bank has the most disciplined borrowers. This confirms the low level of NPL (loans overdue for more than 90 days). Now this figure is 0.23% with an average banking level of 8%.
In addition, according to the Head of State, in conditions of falling demand, lowering the market value of assets and collateral, it is extremely important to use the Damu Fund loan guarantee tool.
“Fund guarantees will be extended to loans issued under the National Bank's working capital lending program. I recall that its volume is 600 billion tenge and will be increased if necessary”, - Head of State noted.
As noted in the presentation, “micro and small business require special attention. Their ability to fully use standard banking products is very limited”.
“In this connection, I instruct you to provide special measures for small businesses within the framework of the "Business Roadmap" program. The government and "Atameken" should decide on the amount of funding for this area”, - said Kasym-Zhomart Tokaev.
Kasym-Zhomart Tokayev also emphasized that creating a diversified economy with a focus on manufacturing remains a priority.
“For the implementation of long-term projects in this sector, it is necessary to provide additional capitalization of the Development Bank of Kazakhstan, - the President said
Currently, the "Baiterek" holding and its subsidiaries, in fulfillment of the instructions of the Head of State, are providing a number of measures in support of entrepreneurs who have been in a difficult situation during the state of emergency.
The Development Bank of Kazakhstan has the opportunity to finance projects using new financing instruments. We are talking about attracting second-tier banks (STB) to co-finance market investment projects, as well as syndicated financing of DBK investment projects in conjunction with STB and other lenders. At the same time, DBK will participate as an organizing bank.
Small and medium-sized businesses are not ignored, receiving support from the "Baiterek" holding through a subsidiary, "Damu" Fund.
In terms of the guarantee instrument, during the state of emergency, the "Damu" Fund has already supported 173 projects worth a loan of 10.2 billion tenge. The amount of guarantees provided is 4.3 billion tenge. The Fund agreed to provide restructuring of guarantee projects for 2,637 projects, in the amount of loans of 80.2 billion tenge, the amount of guarantees - 36.3 billion tenge.
Under the subsidy instrument, 348 new projects were supported in the amount of loans of 72.4 billion tenge. The Fund agreed to provide restructuring for 2,250 subsidy projects in the amount of 324 billion tenge.