Business

Business is supported during quarantine

Damu Fund has supported more than 90 thousand projects worth 5.7 trillion tenge. As the economic situation in the country worsens and quarantine continues, business will need special support from the state. In this regard, Deputy Chairman of the Board of JSC “Damu” Farhat Sarsekeyev said that there are four areas of state support for business.
They are: • Concessional lending,
 • Interest rate subsidies,
 • Loan guarantee,
• Online training of clients and support to financial institutions. According to Farhat Sarsekeyev, Damu Fund has implemented more than 90 thousand projects worth 5.7 trillion tenge. In the first six months of this year, the fund has implemented a number of projects worth 239 billion tenge. The fund also supported small and medium-sized businesses worth 4.6 billion tenge during the quarantine period. “During the quarantine, various projects worth 4.6 billion tenge were implemented in the country. For example, there are 18 projects, such as the production of masks, disinfectants, sanitizers. For our part, we have guaranteed the return of funds provided by banks. That is, we help when there is not enough collateral. This measure will allow banks to finance these projects, “he said. In addition, Farhat Sarsekeyev said when the fund’s program will be launched, which will guarantee up to 80% and provide unsecured loans at 6%. “This program is implemented within the Business Road Map – 2025. Representatives of small and micro businesses will receive loans from 5 million to 20 million tenge. The peculiarity of the program is the presence of a simple system of subsidies and guarantees. Entrepreneur does not come to the Damu Fund to get additional funding. “Obtaining the approval of the entrepreneur from the bank for a particular project is a comprehensive decision between the bank and the” Damu “Fund,” said the deputy head of the fund. Only small and micro businesses will be financed under the program. “This program is designed for small and micro businesses. A limit of 100 billion tenge has been set. Loans are available only to small and micro businesses. Not given to others. There are funds for loans and subsidies. At the launch of the program, micro and small businesses have the opportunity to receive funds under the program after obtaining the consent of the bank, “said the Deputy Chairman of the Board. Director of the Department of Entrepreneurship Development of the Ministry of National Economy Chingiz Akhmetov noted that a number of enterprises were opened in the field of medical services during quarantine. . “In the first six months of 2020, 229 enterprises were opened in the field of medicine and medical services. There are 67 pharmacies among them. In the second quarter of this year, 113 such enterprises were opened. 34 of them are pharmacies, ”the director of the department said. Chingiz Akhmetov also spoke about the enterprises that were closed during quarantine. “We are talking only about the suspended enterprises. There is no question of their complete closure or bankruptcy. To address this situation, support is provided, such as tax incentives, financing of entrepreneurs, replenishment of working capital, deferral of loans. The exact number of closed enterprises will be known at the end of the quarantine, “the MNE spokesman said.
Source: inbusiness.kz

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