In turn, Industrial Development Fund supports businesses with leasing financing and lending to manufacturing industry projects
To develop and provide support to micro, small, medium and large businesses, subsidiaries of Kazakhstan's National Management Holding Baiterek JSC are using a number of support tools, a source in the holding told Trend.az, writes Kazinform News Agency.
As the source noted, to provide support to large businesses, Development Bank of Kazakhstan offers long-term loans for production and infrastructure investment projects, as well as pre-export financing.
In turn, Industrial Development Fund supports businesses with leasing financing and lending to manufacturing industry projects.
Through Qazaqstan Investment Corporation, business entities in the manufacturing industry are supported through equity and mezzanine financing.
In addition, Damu Entrepreneurship Development Fund JSC supports small and medium-sized businesses.
"One of the major projects approved in 2023 is financing the construction of a gas processing plant with a capacity of 1 billion cubic meters. The goal of the project is to increase oil production at the Kashagan field by creating new capacities for processing associated petroleum gas," the source said.
The source also noted projects aimed at increasing food security in Kazakhstan. Among them, the construction of the first stage of a greenhouse complex, construction of a closed-cycle poultry complex for the production and processing of broiler meat, production and sale of unrefined sunflower oil.
"For the first time in Kazakhstan, it is planned to launch the production of household appliances in the city of Saran with a production volume of up to 1.1 million units of equipment per year. This project will improve the socio-economic indicators of the Karaganda region, and will also allow the production of affordable household appliances," the source noted.
Kazakhstan's Baiterek holding has financed investment projects worth 511 billion tenge (about $1.11 billion) from January through September 2023.
Also, 18,100 small and medium-sized business projects were supported for a total loan amount of about 1 trillion tenge (about $2.17 billion).
In addition, based on the results of nine months of this year, 811,200 square meters of housing were commissioned, and about 47,000 families received new housing.
Photo: Trend.
