Kazakhstan to set up two loan guarantee funds to support business
This year, Kazakhstan plans to support 30,000 projects of small and medium businesses to the amount of 1.7 trillion tenge, Kazinform News Agency quotes Minister of National Economy Serik Zhumangarin as saying at the government's weekly meeting.
Zhumangarin said that loan guarantee for business entities proved to be an efficient tool, including in foreign countries.
According to him, two guarantee funds will be established in Kazakhstan. One of them will serve small and medium businesses
“The volume of loan guarantees and interest rate subsidies for small and medium businesses will be increased. This year we plan to assist some 30,000 projects of SMEs to the amount of 1.7 trillion tenge,” he noted.
Besides, a loan guarantee fund for large businesses will be established in Kazakhstan. This will enable to tackle the problem of sufficiency of collateral security for major and strategically important projects, Zhumangarin added.