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Subsidizing interest rate on private entrepreneurship loans under the Business Roadmap 2020 Program

Target segment

private entrepreneurship (PE), implementing and (or) planning to implement investment Projects in priority economy sectors according to the CCEA in Appendix No. 1 to RR No. 301 dated 13/4/2010.

The maximum amount of the loan under subsidizing

— 1, 500, 000, 000 tenge for one borrower;

— amounts of currency loans under interest rate subsidizing, cannot exceed the equivalent amount of 1.5 bln tenge for one borrower.

Participation of the borrower’s own funds in the Project implementation

— Up to 3 (three) years, with the possibility of further extension for up to 10 (ten) years; Extension of the validity term of the Agreement on subsidizing upon expiry of 3 (three) years is approved by the RCC decision based on the relevant Bank letter only if funds are allocated for subsidizing from the Republican budget for PE in the corresponding year and is performed annually.

Loan currency:

Tenge (in cases the loan is issued in a foreign currency, it can be subsidized only if the loan currency is conversed into tenge, at the exchange rate set by the National Bank of the Republic of Kazakhstan)

Interest rate subject to Subsidizing

— Nominal interest rate not more than 14% per annum, of which 7% is paid by PE, and the difference is compensated by the state.***

Lending of private entrepreneurship businesses under Damu Entrepreneurship Development Fund JSC (Financial Agent) guarantees within the Business Roadmap 2020 Program

Target segment

private entrepreneurship (PE), implementing and (or) planning to implement investment Projects in priority economy sectors according to the CCEA in Appendix No. 1 to RR No. 301 dated 13/4/2010.

The purposes of financing Projects subject to guaranteeing by the Financial Agent

1) Guarantees are provided by the Financial Agent only for new loans issued by Banks for implementation of new Projects, as well as for ongoing Projects aimed at investment, modernization and expansion of production. Loans guaranteed to refinance previously received loans are not allowed.

2) Guaranteeing cannot be performed for loans, issued for working capital financing, excepting cases

— provided in the Terms of provision of guarantees for loans to private entrepreneurship in the amount of not more than 20.0 mln tenge for first-time entrepreneurs, The Terms of provision of guarantees for private entrepreneurship loans in the amount of not more than 60.0 mln tenge;

— if working capital is financed within a loan for purchase and/or modernization of fixed assets and/or investment, but not more than 30% of the loan amount.

It is also allowed to guarantee a loan in the amount of not more than 60 million tenge directed 100% to finance working capital (except for settlements on payroll, tax and other obligatory payments, payment of current payments for servicing credits, loans or Leasing Agreements and other purposes, not related to carrying out by the applicant of its main activity).

Conditions for provision of guarantees under PE loans in the amount of not more than 20.0 million tenge for start-up entrepreneurs

1) The amount of the loan under which the Guarantee is performed cannot exceed 20 million tenge for one Start-up Entrepreneur.

2) The maximum amount of the guarantee cannot be over 70% of the loan amount, at that the Start-up Entrepreneur provides collateral of not less than 30% of the loan amount.

3) the guarantee term cannot exceed 5 (five) years;

It is allowed to guarantee a loan directed 100% to finance working capital (except for settlements on payroll, tax and other obligatory payments, payment of current payments for servicing credits, loans or Leasing Agreements and other purposes, not related to carrying out by the Start-up Entrepreneur of its main activity). The term of guarantees under these loans cannot exceed 3 (three) years.

Conditions for provision of guarantees under PE loans in the amount of not more than 60.0 million tenge

1) The amount of the loan under Guarantee, cannot exceed 60 mln. tenge for each individual Project. 2) The maximum amount of the guarantee cannot be over 50% of the loan amount, at that the Start-up Entrepreneur provides collateral of not less than 50% of the loan amount. 3) The guarantee term cannot exceed 5 (five) years;

Conditions for provision of individual guarantees under PE loans in the amount from 60.0 to 300, 000.00 million tenge (including)

1) The amount of the loan under Guarantee, cannot exceed 300 mln. tenge.

2) The maximum amount of the guarantee cannot be over 50% of the loan amount, at that the Start-up Entrepreneur provides collateral of not less than 50% of the amount.

3) the guarantee term cannot exceed 3 (three) years;

4) It is allowed to guarantee a loan, issued to finance working capital, except when working capital financing is performed within a loan for investment, purchase and/or modernization of fixed assets, but not more than 30% of the total loan amount.

Participation of the borrower’s own funds in the Project implementation

By projects with the loan amount of not more than 60 mln. tenge PE should provide participation in the Project implementation of:

— own funds not less than 10% (ten percent) of the total cost of the Project implementation, or own movable / immovable property at a level not lower than 20% (twenty percent) of the total cost of the Project implementation.

Guarantee term

Not more than 3 (three) and 5 (five) years according to the Program terms (at that the guarantee term is equal to the term of the loan issued by the Bank)

Loan currency:

Tenge (in cases the loan is issued in a foreign currency, it can be subsidized only if the loan currency is conversed into tenge, at the exchange rate set by the National Bank of the Republic of Kazakhstan)

Special terms:

Financial Agent can only guarantee loans with a nominal interest rate of not more than 14% (fourteen per cent) per annum.****

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