Baiterek Holding and its subsidiaries announced the launch of a new program to support medium-sized businesses
On 16 January 2015 in Taraz City, Baiterek Holding and its subsidiaries CEO, National Chamber of Entrepreneurs of Kazakhstan representatives, and Zhambyl Oblast Akimat officers met with businessmen to clarify the terms and conditions for participation in the Program.
According to Baiterek Holding representatives, the Program is open to SMEs with the corresponding incomes, growth dynamics, and robust financial health, which are exporters of finished products.
Among the sectors of the economy, priority will be given to mechanical engineering, food processing and to production of building materials.
The program is to be implemented by Baiterek Holding through its subsidiaries, such as Development Bank of Kazakhstan, Damu Entrepreneurship Development Fund, «KazakhExport» Export insurance company» joint-stock company, Kazyna Capital Management, and National Agency for Technological Development. Each of the said institutions will provide its development tools to implement the program: direct loans, finance leases, interest rate subsidies, loan guarantees, export insurances, pre-export financing and trade financing, and grants for innovation. Thus, the program will provide comprehensive support to medium-sized businesses on the “one window” principle.
As a result of the program implementation, there are plans in place to support the companies unable to compete in regional and global markets and to obtain non-oil exports and of import substitution growth.
Such meetings with medium-sized businesses are planned to be held in all the regions of the Republic.
