President urged to allocate extra KZT 3 bln for consumer micro-loans

"It is necessary to provide extra KZT 3 bln for micro-loans this year and KZT 10-15 bln in 2012-2015," the President said in his annual Address to the Nation.

According to the President, over 1200 micro-finance organizations function in Kazakhstan today. They allocated 110 thousand credits to the amount of KZT 16 bln. "However, the major part of it is consumer loans with high rate", N.Nazarbayev said.

In this regard, the President charged the Government together with financial authorities to develop a corresponding bill and complex measures.