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“Damu” Fund finances 215 projects for SME development in 2016

by October 5, 2016 Key Issues

For 8 months of 2016 programs of Damu Fund have provided financial support for 215 projects, Deputy Chairman of the Board of NMH Baiterek JSC Lyazzat Ibragimova said during the meeting of the Government.

“Since 2014 the National Fund of Kazakhstan has allocated 545 billion tenge for support of the businesses within the “Nurly Zhol” program. In the first program of financing of small and medium-sized businesses in the manufacturing industry, “Damu” Fund allocated 200 billion tenge,” L.Ibragimova said.

Today this amount increased to 292.9 billion tenge on the basis of a revolving lending as she explained.

“1,476 companies received resources of 6% per annum; 2.8 billion tenge allocated due to repayment of previous borrowers which is re-issued to new participants of the program. 758 entrepreneurs in 2015 and 215 projects for 8 months of 2016 received support under the program. The absolute leader is food manufacturers. For 8 months of 2016 taxes for 15 billion tenge were paid,” Lyazzat Ibragimova informed.

Source: Government of the Republic of Kazakhstan