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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 "Damu" Fund has financed the chess academy in Almaty city

March 17, 2016 6:55 pm

Today the opening ceremony of the Chess Academy was held, which was attended by the legendary grandmaster Anatoly Karpov.

The "Damu" Fund with great pleasure supported the initiative of head of the family Daniyar Ashirov to acquire its own premises for the Chess Academy and assisted in every possible way in order to realize a dream of thousands of Almaty residents - fans of this intellectual game.

The private foundation "Chess Academy of Zhansaya Abdumalik", where everyone could learn to play chess from professionals has been already successfully operated, when Daniyar Abdumalikovich applied to the "Damu" Fund for the first time in order to get support. At that time, in January, 2015 the opening was supported by the Foundation of the First President of the Republic of Kazakhstan. At present there are more than three hundred pupils aged between three to thirty-five years.

Teachers from Kazakhstan and grandmasters from Georgia are training them. Children from socially vulnerable segments of the population study free of charge, while for others there is a flexible system of payment for study. Pupils regularly participates in tournaments with FIDE rating and other international competitions, and often become prize-winners. The Academy enjoyed such popularity and influx of students was so great so that places in classes was not enough for everyone. At that time an idea to apply to the "Damu" Fund for state support in order to purchase their own premises came to head of the family.

We are gladly supported this initiative and the Academy was able to obtain credit fro the Capital Bank in the amount of 120 million tenge. "Damu" Fund subsidized the loan and now interest rate on loan is only 7% per annum. Additionally, we committed themselves and issued partial guarantee up to 50% of the loan amount in order to cover insufficient part of the collateral in the bank. This enabled The Academy to purchase the building for ownership, to purchase the necessary equipment and inventory as well as made repairs.

We are glad that a dream of Zhansaya’s family has come true, and now everyone will be able to practice in spacious and bright classrooms. We call this project - a project of the future, because namely chess - the only game that is widely and deeply reveals the potential of the child, and therefore our future. Who knows, maybe in these new classes such a Kazakhstani chess player will grow, whose name will be heard in world news repeatedly. We wish the Chess Academy prosperity and wins.