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The 5th Business Forum of Conference on Interaction and Confidence Building Measures in Asia (CICA), 10-11 of November 2016, Astana, Kazakhstan

The Atyrau regional branch of the “Damu” Fund has announced results of its activities for the year 2015

February 25, 2016 6:27 pm

A press conference was held in Atyrau city with the support of the central communications service and the participation of regional and national media, where director of the regional branch of the "Damu" Fund in Atyrau region Alia Utepkalieva and deputy head of the regional department of agriculture Serik Sarsekenov have told about results of work achieved during 2015 as well as the results of the implementation of the Unified Program of Support and Business Development "Business Road Map - 2020" in the region.

Subsidizing interest rates on loans represents one of the direction of support for first - time and acting entrepreneurs in the framework of the state program "Business Road Map 2020". As told by Alia Mendikhanovna, the state subsidizes up to 10% of the interest rate on loans, obtained by entrepreneurs from single-industry towns, small towns and rural areas. In case of shortage of collateral in the process of financing in the second-tier banks, entrepreneur under this program could also take advantage of the guarantee from “Damu” Fund. In other words acting entrepreneur are able to obtain a loan in the Bank twice as large as cost of its collateral, while first-time entrepreneur could obtain the Fund's guarantee up to 85% of the loan amount.

Since the beginning of program implementation in Atyrau region about 241 projects have been subsidized in the total amount of 46.81 billion tenge and 91 entrepreneurs have received a guarantee from "Damu" Fund for a total amount of 1 billion 383 million tenge.

Among the most actively participated bank in the implementation of the "BRM -2020" program are JSC ""Sberbank" of Kazakhstan", JSC "Halyk Bank of Kazakhstan", JSC "Bank CenterCredit". "In general there is a positive dynamics in the Atyrau region for the implementation of the Unified Program of Support and Business Development "Business Road Map - 2020". Statistics for 2015 could be proof for that. 82 subsidy contracts signed for a total amount of 6 billion 247 million tenge. 55 projects benefited from a guarantee of the "Damu" Fund for a total amount of 543 million tenge ", - reported Alia Utepkaliyeva. As an example two real project were mentioned: a start-up project "Zhana ondіrіs" IE (production of pavers from crumb rubber) and active business "Astrakhantseva Z." IE (Children's club activities).

There also non-financial types of support - training of entrepreneurs were mentioned. These are projects such as "Business Connections", "Training of top management of SMEs" and "Senior experts". All these projects are aimed to the development and implementation of new business – strategies as well as establishment of business relations.

As regard to plans for 2016, the director of the branch Alia Utepkaliyeva indicated that current year for projects subsidy 1 billion 161 million tenge, while in the line of guarantee - 54.778 million tenge were allocated. In addition, 347 million tenge have been allocated for working capital replenishment from the National Fund. In 2016 the Fund will focus on start-up projects, where any interested person, having a business idea could apply for training in "Damu".

These courses provides not only the theory, but also practice. In its turn, the "Damu" Fund will accompany first-time entrepreneurs until the moment when they are set up their own business. There are projects such as "Support for setting up a new business" and "Support for entrepreneurial initiatives of students." In the framework of latter project, memorandum of cooperation with the Atyrau Institute of Oil and Gas were signed on 9 February 2016.

Deputy head of the regional department of agriculture Serik Sarsekenov noted that in Atyrau city and four districts (Kurmangazy, Isatay, Zhylyoi, Kyzylkogin) of region there are 5 credit unions working with a financial portfolio over 1.1 billion tenge. As a result, 228 people in rural areas were able to set up their own business. Most of them are engaged in habitual business - crop and livestock, but there are many people who have chosen different directions to provide services to the population. In the framework of the state program "Altyn Asyk", "Sybaga", "Қylan" 3821 sheep, 624 cattle and 944 horses was purchased for the total amount of 550 million tenge. The residents of Inder district received a loan of $ 2.88 million tenge for sinking of well, 80% of which are covered by investment subsidies.

For the current year, 1.1 billion tenge provided on debt financing by the regional branch of "Agrarian Credit Corporation" JSC . According to Serik Sarsekenova, it plans to set up four cooperatives for the collection of animal hair in districts.