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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 Program of funding of private enterprises, engaged in service sector in Astana and Almaty cities

The program is designed to provide favorable terms of support for entrepreneurs in Astana and Almaty cities. The program is implemented at the expense of funds of the Fund “Damu”.

Under the Program private enterprises’ (hereinafter –PE) projects are financed through Second tier banks (hereinafter - STB). These PEs must be registered in Astana and Almaty cities, working in the service industry under the approved list (see below).

Total amount of funds within the Program is 1.2 bln.

The following STB’s are participating in the Program: «AsiaCredit Bank» JSC  

Main credit conditions for PEs crediting within the Program:

  • Targeted group - small and medium enterprises ( SME), registered in Astana and Almaty cities according to the laws of the Republic of Kazakhstan, and operating in service industry as listed in sub-sectors (see below). Partner Banks can finance projects of large businesses, if they are tenants and/or owners of commercial (non-residential ) property built at the expense of "Samruk-Kazyna Real Estate Fund" JSC for hire, hire-purchase and direct sale in Astana and Almaty cities;
  • Proper use of funds-replenishment of working capital and acquisition of new and modernization existing fixed assets;
  • Funding of SMEs only in the listed subsectors of service delivery, which is shown below:

№ of section

№ of paragraph

Name (paragraph, subparagraph, groups)



Wholesale and retail of cars and motorcycles and their repair



Services on delivering food and drink products



Professional, scientific and technical activities



Office administrative and support service activities






Health and social services



Arts, entertainment and recreation



Other services

  • Loan term - up to 84 months;
  • Effective annual interest rate - not more than14.0% APR;
  • Credit currency - tenge;
  • Grace period on principal repayment- up to 12months;
  • Maximum limit of financing within the Program on one SME should not exceed 150 mln. tenge;
  • Other credit conditions are set independently of STBs.

According to the Program, representation of loans for SMEs is prohibited for the following purposes :

  • Purchase of residential or commercial (non-residential ) real estate;
  • Participation in the charter capital of legal entities;
  • Payment for agent services;
  • Payment of broker and consulting services;
  • Refinancing of Final borrowers’ loans.

Financing of SMEs with outstanding taxes and other mandatory payments to the state budget is prohibited (debt is equal to zero in case of a value less than ten (10) MCI, as determined at the date of reference of the tax authority).