Eurasian Bank obtained tranche for concessional lending to business from DAMU fund
ALMATY, February 22, 2018, Press Release On 14 February 2018 Eurasian Bank (the Bank) received 1, 125, 553, 000 (one billion one hundred twenty-five million five hundred fifty- three thousand) tenge from Damu Entrepreneurship Development Fund JSC (the Fund) for involving Kazakhstanis in entrepreneurship and supporting start-ups within the implementation of the Program for the Development of Productive Employment and Mass Entrepreneurship for 2017-2021.
Of this amount, 1, 015, 000, 000 (one billion fifteen million) tenge was allocated for concessional lending to business in Almaty, 51, 714, 000 (fifty-one million seven hundred and fourteen thousand) tenge in Almaty region, 58, 839, 000 (fifty-eight million eight hundred thirty- nine thousand) tenge for preferential loans in the East Kazakhstan region.
Lending conditions: interest rate – 6% per annum, no commissions, loan period – for investments not more than 60 months, for loans issued for working capital financing – not more than 36 months. Loans are issued without sector restrictions, except working capital financing under projects implemented in the trade sector (“Wholesale and retail trade: car and motorcycle repair” ССEE, approved by Order of the Committee for Technical Regulation and Metrology of the Ministry of Informational Technologies of the Republic of Kazakhstan dated 14.12.2017 No. 683-ОД except for maintenance and repair of motor vehicles and motorcycles stipulated by classes 45.20 and 45.40 CCEE. The security should be real and liquid movable property in accordance with the requirements of the Bank pledge policy or a guarantee from Damu EDF.
Earlier, Eurasian Bank participated in the implementation of the following programs: DAMU Ondiris 1sttranche – 3, 000, 000, 000 tenge, DAMU Ondiris 2nd tranche – 2, 000, 000, 000 tenge, DAMU Ondiris 3rdtranche – 2, 000, 000, 000 tenge, DAMU Ondiris Regions 3 – 1 – 400, 000, 000 tenge, Zhambyl Local Executive Bodies – 80, 000, 000 tenge. All these tranches were fully implemented.
About the Bank
Eurasian Bank is one of the socially important commercial banks of Kazakhstan with a 24-year history of development. The financial institution occupies a leading position in the retail banking business and provides a wide range of services to corporate and SME clients. On 4 September 2017, the Board of Directors adopted the development strategy of the financial institution until 2022, with a focus on retail business development. Eurasian Bank belongs to the owners of ERG, a large diversified company – Aleksandr Mashkevich, Alidzhan Ibragimov and Patokh Shodiev.
Eurasian Bank PR Service:
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