Press room

Halyk and Damu Fund have continued their cooperation to support small and medium-sized businesses in Kazakhstan. KZT 55.6 billion will be allocated for the new stage of reduced-rate lending under “Orleu” program – the funds will be available for investment projects and refinancing of previously issued loans.

More funds will be provided to businesses for development

Thanks to the updated agreement, each borrower will be able to obtain financing of up to KZT 7 billion at the interest rate of no more than 12.6% p.a. for a term max. 10 years.

The focus is on domestic producers: priority will be given to acquisition of equipment and machinery labeled “Made in Kazakhstan”. Financing for imported equipment is permitted only in the absence of domestic analogues, according to the Bank.

Additional funding will allow for continued active support of businesses, believes Diyar Makulbayev, Director of the SME Lending Department of Halyk.

“Support for small and medium-sized businesses remains one of Halyk Bank's key priorities. The high demand for the program is confirmed by the last year's results — thanks to the program, the Bank supported approximately 700 projects for a total amount of circa KZT 250 billion. Additional funding will expand entrepreneurs' access to soft-term resources and enable the implementation of even more investment projects aimed at modernizing enterprises and increasing their competitiveness”, noted Diyar Makulbayev, commenting on the updated terms of the program.

What can the financing be used for?

Entrepreneurs may allocate funds to investment projects, including acquisition of equipment and special machinery, construction, reconstruction and modernization of facilities, as well as refinancing of previously issued investment loans.

As for the industries, the program is focused on financing of sectors with high growth potential and significant contribution to development of the country's economy.

Such an approach will allow for the most efficient use of state support measures, believes Zhanna Zeinelova, Head of the SME State Programs Division of Halyk.

“Behind every investment project is an opportunity for business to reach a new level —expand production, implement modern technologies, create jobs and increase business efficiency. Therefore, special attention is currently being paid to projects in the manufacturing industry, tourism, information technology sector and creative industry. Accessible long-term financing allows entrepreneurs to implement such projects, while simultaneously contributing to development of domestic production and increasing business competitiveness”, noted Zhanna Zeinelova.

“Orleu” program is aimed at micro, small and medium-sized enterprises implementing projects in the manufacturing industry, tourism sector as well as in the area of information technology and creative industry.

Entrepreneurs implementing projects in priority sectors of the economy may contact Halyk branches for detailed consultation on the terms of participation in the program.