State funding of small and medium business should be at the 14%rate per annum, Kairat Kelimbetov, Head of SamrukKazyna National Welfare Fund said at the Government’s telephone conference today.
“In this difficult period state financing of small and medium business should be carried out at the rate of not higher than 14% per annum,” Kelimbetov noted.
As it is known rate was lowered from 14.5% to 13.5% in accordance with Damu-regions program on small and medium business financing.
In addition, SamrukKazyna will invest 120 billion tenge (US$ 1 billion), 70% of which will be directed to current projects refinancing and 30% will be for new projects implementation.
Kairat Kelimbetov also reminded that 6 billion tenge is planned to allocate for micro-lending in 2009.
