Kazakhstan launches new program to support woman entrepreneurs

JSC Damu Entrepreneurship Development Fund has allocated 10 billion tenge for a new women’s entrepreneurship support program called “Umit” (translated as “hope”), Kazinform News Agency reports.

The step will enable the country’s businesswomen to apply for financing at the second-tier banks in all regions, including villages, small cities and single-industry towns, the press service of Damu Fund informed.

The loans will be issued for up to 84 months, with a beneficial rate for investment purposes and working capital financing in the amount of up to 100 million tenge. The program will encompass all the sectors of economy, except for finance and insurance, real estate transactions and wholesale and retail trade.

The women entrepreneurs will also be able to undergo free training and get an access to educational courses and training programs under a partnership program launched by the Damu Fund together with the European Bank for Reconstruction and Development.

According to Chairperson of the Board of Damu Fund Gaukhar Buribayev, Damu Fund has supported 96 thousand women’s entrepreneurship projects worth 2 billion 893 million tenge.