July 4, 2014 at the in-person meeting the Board of Directors of Damu Entrepreneurship Development Fund JSC (hereinafter – Damu), approved the development strategy of Damu Fund for the years 2014-2023.
The mission of the Fund is to promote quality development of SMEs in Kazakhstan through comprehensive support, including a wide range of financial instruments and competencies development programs.
The main idea of the Strategy is to transform the Fund to become an effective national institution that implements the state policy of support and development of small and medium-sized businesses.
The strategy of Damu Fund contemplates the implementation of the following lines of development: (1) providing financial support to SME entities; (2) development of competencies of SME entities.
Within the framework of the Fund’s priorities for the construction of an effective national institution it is expected to ensure breakeven level of operating and financial performance, improving the effectiveness of financial resources management, increasing transparency of activities and trust of the population.
As part of the strategic lines of Damu Fund for financial and non-financial support for SMEs it is expected to ensure positive dynamics to increase the amount of financial support to SMEs, expanding areas of cooperation and mechanisms for financing/co-financing of SMEs in collaboration with private financial institutions, to attract additional funding on domestic and foreign markets to increase volumes of SME financing, consulting services infrastructure development for entrepreneurs, training of entrepreneurs and improving competencies, as well as introduction of a unified information platform for SMEs and the development of remote consulting.
Implementation of all activities under the main activities is continuously related to the work to improve the effectiveness of the Damu Fund, including conducting financial and economic policy, risk management, improving corporate governance, human resources policy, improving the internal control system, introduction of modern information technologies, improving effectiveness of financial resources management, increase in transparency and public confidence in, etc.