There will be more loans for business
The Government will allocate additional funds for financing of SMEs with loans
This measure will be adopted not only to improve situation with provision of loans, but also to help businesses to save jobs. In this regard the Government of Kazakhstan will increase financial expenses. This was announced by the Minister of National Economy Erbolat Dosayev at today's Cabinet meeting.
"In order to support SMEs in the framework of the" Road Map of Business- 2020" in December of this year additional funds will be directed to regions to subsidize interest rates on loans for working capital in the amount of 7.2 billion tenge, 7 billion in 2016 for subsidizing and guaranteeing of investment loans", - said the Minister. According to him, such measure would allow "to attract loans to the economy in the amount of 202 billion tenge, to increase production to 418 billion tenge, to save and to create at least 15,177 jobs". In addition, it ensures influx of tax revenues amounting to 50 billion tenge.
More loans will be attracted from international financial institutions.
"In order to increase SME lending in 2016 will be used credit lines of MFO in the amount of 65 billion tenge, including 30 billion tenge from the WB, 30 billion tenge from ADB 5 billion tenge Bank", - said E. Dosayev.
In addition, the Government intends to speed up the implementation of projects in the agricultural sector. “So, for the implementation of the Project of "restoration of irrigated land through irrigation and reclamation” will be taken loans from MFO under the state guarantees in the amount of 153 billion tenge during 2016-2018", - said E. Dosayev. For the implementation of priority investment projects of the holding "KazAgro" for the production and processing of agricultural products are envisaged state guarantees in the amount of 300.7 billion tenge in 2016-2018. First of all, we are talking about the production of meat and milk, summed up Dosayev.
Zhanar Serdalina
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