New flexible instruments of state support to be introduced within Business Road Map-2020

ASTANA. KAZINFORM - New flexible instruments of state support will be introduced within the Business Road Map-2020, Deputy Minister of National Economy Kairbek Uskenbayev told at the sitting of the committee for finance and budget of the Majilis of the Parliament of Kazakhstan.

"New flexible instruments of state support will be introduced within the framework of the Business Road Map-2020 Program. These instruments are about lending loans, subsidizing of interest rates of credits and guaranteeing loans of macro financial organizations. The measures will be implemented within the first direction of the program called "Support of new business initiatives", K. Uskenbayev said.

According to him, the interest rates of micro credits not exceeding 10 million tenge for one entrepreneur will be subsidized. Besides, the nominal rate of return should not be higher than 20 percent and the state is going to pay for a half of the amount. Guaranteeing of loans of macro financial organizations is carried out for loans not exceeding 500 million tenge. The amount of the guarantee can reach 100 percent for a period of three years.