«Damu» Fund and Subsidiary VTB Bank JSC (Kazakhstan) will steer 6 billion tenge for business credit within «Damu-Regions» program


«Damu» Fund entered into an agreement with Subsidiary VTB Bank JSC (Kazakhstan) on submission of credit line for the lending to small and medium-sized businesses. The amount of money, allocated by the «Damu» Fund was 3 billion tenge, similar amount was allocated by the Bank, thereby, total pool of funds, steered to the realization of «Damu-Regions» program was 6 billion tenge.

The credits are granted for the financing of projects, implemented within Single program of business promotion «Business road map 2020».

The main terms of financing:

Nominal rate of return on the borrowers’ loans:

- on «Damu» Fund’s assets – not more than 14% per annum;

- on Bank’s assets – not more than 19% per annum;

Maximum limiter per one borrower – 500 million tenge;

Duration of loan – up to 84 months.

The funds are provided for the following purposes:

- working capital replenishment;

- purchase of new assets and upgrading of fixed assets.

«Apart from reduced crediting rates, the entrepreneurs, who obtained credits under «Damu-Regions» program, may get additional support by way of subsidies, which will allow reducing the interest rate by 7-10%. In case of lack of security the entrepreneur is able to receive the «Damu» Fund’s guarantee in the amount of up to 85% of credit amount»,- deputy Chairperson of Board of «Damu» Fund, Nurlan Akshanov, said.

Since 2009 «Damu» Fund is fruitfully cooperating with Subsidiary VTB Bank JSC (Kazakhstan), which is an active partner of Programs such as « Single program of business promotion «Business road map 2020», «Damu Regions», «Damu-Optima», «Astana Business», as well as Program of microcredit for women’s entrepreneurship. Cooperation within government programs is one of the priority areas of financial institution’s activity.

«Our Bank works with «Damu» Fund within «Damu-Regions» program since 2012, during which time we concluded 5 agreements for the total amount of 4 billion 700 million tenge, among them 1 billion 700 million tenge were lured under previous agreements and aimed at financing of small and medium-sized business entities, 3 billion tenge, which we received within the latest agreement, will also be aimed at support of SME» - Deputy Chairperson of Board – Member of Board of Subsidiary VTB Bank JSC (Kazakhstan), Nikolay Suganyaka, says.

For reference: «Damu regions» program is aimed at financing of regional priority projects of small and medium-sized business entities. Up to date 3,192 borrowers were supported, 11,563 working places were created, and the amount of actual issue was 178 billion tenge within realization of the program.

«Damu» Fund is a national institute of development, 100% of shares of which belong to «Baiterek» National Management Holding» JSC. «Damu» Fund’s mission is assistance in the qualitative development of SME, as well as microlenders of Kazakhstan as an integrator and operator of provision of financial, advisory services. Press office: t. +7 (727) 2445566 (int. 1906) Web: www.damu.kz

Subsidiary VTB Bank JSC (Kazakhstan) is a member of VTB international financial group. The Bank has successfully worked more than 8 years in the financial market of Kazakhstan. To date, Subsidiary VTB Bank JSC (Kazakhstan) has a branch network, consisting of 40 structural subdivisions, 17 of which are branches. The Bank's Central Office is located in Almaty. The license of the National Bank of the Republic of Kazakhstan No.1.2.14/39 dated December 23, 2014. Press office: t. 8 (727) 330 59 20 (int.59 20) Web: www.vtb-bank.kz