Kazakhstan launches program on subsidizing big business
13:46, 25 July 2011
TANA. July 25. KAZINFORM The Government of Kazakhstan has approved regulatory framework for the launch of the Program on Post-crisis Recovery of competitive enterprises. Kazinform refers to PM's official site.
"The Ministry of Finance is ready to help business in recovering through extending loans at 7% for 5 year term. All acts and orders for the Recovery Program launch were adopted," Deputy Minister of Finance Ruslan Dalenov posted on his Twitter page.
According to him, the funds will be spent for debt restructuring of the strategic enterprises.
The Post-crisis Recovery Program aims at countering effects of the crisis that have crippled competitive enterprises of the country. Special emphasis is placed both on the financial support of productions and on social issues such as preservation of maximum number of jobs. Kazinform cites the official site of the Prime Minister of Kazakhstan. See www.pm.kz