Kazakhstan to offer more affordable loans to budding businessmen
At the joint session of the Kazakh Parliament chambers, President Nazarbayev emphasized that micro loans at preferential rates is the most effective instrument to spur SME growth in Kazakhstan.
"In 2017, 7,200 micro loans to the tune of 32 billion tenge were provided. 5,000 participants of the Bastau Business project couldn't start their business because they couldn't obtain micro loans. Extra 20 billion tenge will be allotted this year," promised Nursultan Nazarbayev, while announcing five new social initiatives.
According to the Head of State, in 2018, the micro loan program will embrace up to 14,000 businessmen, twice as much as last year.
Nazarbayev added that this initiative will help thousands of people start their own business. The initiative, according to the President, is of paramount importance for those who want to set up their business in rural areas and villages.