Entrepreneurs to get long-term tenge loans under industrialization program - Bishimbayev
22:08, 17 May 2014
ASTANA. KAZINFORM - To protect Kazakh entrepreneurs against currency risks it was decided to provide them long-term loans in tenge within the framework of the Program on Forced Industrial and Innovative Development, Chairman of the Board of JSC "National Holding "Baiterek" Kuandyk Bishimbayev has announced today at a briefing in the Central Communications Service, the website of the Prime Minister reports.
"Taking into account different macroeconomic factors and influences we have decided that the main instrument in the framework of the FIID will be long-term tenge loans. This will allow entrepreneurs to avoid currency risks, give them strength and stability in the work," he said.
According to Bishimbayev, the average term of loans will be from 7 to 10 years.
He also noted that to support the Development Bank of Kazakhstan and its lending activities the Government provides financial assistance to the bank in the form of capital and guarantees for various types of external loans under the second five-year plan of industrialization.