Concessional Financing Program involving second-tier banks for small and medium enterprises out of the funds of “Kazyna Capital Management” JSC through the “Baiterek Venture Fund” JSC

• Development of non-resource economic sectors through direct investment in the small and medium enterprises, which carry out activities in priority sectors of economy and have growth potential and stable financial condition.
• Support of non-resource exports by investing in projects with the potential of processed product export to regional and international markets.

1. From 1 to 10 years – for investment projects.
2. From 1 to 5 years – for export operations and working capital financing

• Investment project implementation.
• Export operation performance.
• Working capital financing (current activity financing).
• Financial liability discharge towards financial institutions (but no more than 30% of the amount of investment in one Company)

Investments cannot be allocated to:

• Financing of any companies with the negative credit history specified by internal regulatory documents of second-tier bank.
• Financing of any companies with overdue debt on taxes and other obligatory payments to budget.
• Financing of any companies, for which the Fund’s investments will be allocated to payments to the Company members for personal ownership and use (ban on cash-out), excluding the amount for acquisition of the share specified in the Share Purchase Agreement.

Investments cannot be allocated to:

• Projects, the goal of which is the extraction and sale of raw materials (mineral resources) without further processing;
• Projects for alcohol and tobacco product output;
• Gambling business development projects with cash prizes (casinos, totalizators, etc.);
• Projects related to the production of narcotic drugs, weapons, psychotropic substances and their precursors.

Investments can be allocated only to specific priority sectors of economy.

• Companies are residents of the Republic of Kazakhstan.
• Companies are the small and medium-sized business entities in the organizational and legal form of limited liability partnership in accordance with the legislation of the Republic of Kazakhstan.
• Companies cannot be enterprises, the founders of which (including members, shareholders) are the state-owned enterprises / institutions, national managing holdings, national companies and organizations, fifty or more percent of shares (equity interests) of which are directly or indirectly owned by the state, national managing holding, national holding, national company, persons affiliated with “Baiterek National Managing Holding” JSC, as well as the entrepreneurs, the ownership form of which is registered as a private institution, and the non-profit organizations.