The Bank signed another loan agreement with the DAMU Fund and the capital Akimat on re-participation in the Program of regional financing of small and medium-sized businesses in Nur-Sultan city – “Astana Business-2” for the amount of KZT 300 million, 50% of which was allocated by the city Akimat and another 50% – by the Fund.
Under this program, VTB Bank (Kazakhstan) will provide soft loans to beginners and operating businessmen of the capital at a nominal interest rate of up to 8.5% per annum.
- “VTB Bank (Kazakhstan) in cooperation with Damu Entrepreneurship Development Fund, has already implemented many projects that provide serious support to the SME sector”, - says Igor Li, Member of the Management Board of VTB Bank (Kazakhstan). – “The Bank has already participated in the Astana Business program in 2017 and the Astana Business-2 program in 2019, issuing soft loans to the capital business for the total amount of half a billion tenge. Having successfully mastered past tranches, we appreciated the high demand of the capital's business for such financing and decided to take part in the project again”.
Entrepreneurs working in the market for more than three years will be able to get a loan from VTB Bank (Kazakhstan) under the Astana Business-2 program for a maximum amount of up to KZT 100 million; novice businessmen registered less than for three years – up to KZT 50 million. This year, the program stipulates a special condition: the final borrowers who received financing within the framework of “Astana Business-2” undertake to increase the average annual number of job positions, based mandatory pension contributions and (or) social contributions data by 10% after two fiscal years from the date of signing the bank loan agreement. In addition, companies providing financial and insurance services, as well as carrying out real estate transactions, cannot participate in the program.
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