GOVERNMENT FAILS TO EXECUTE PRESIDENT'S INSTRUCTIONS: Commercial banks reluctant to lend rural entrepreneurs - Aktobe rgn
ASTANA. November 4. KAZINFORM - Commercial banks are reluctant to lend rural businesses.
That happens mainly due to the illiquidity of the agricultural collateral and object's remoteness from a regional business center, according to the words of Amantay Bekniyazov, the e xecutive director of "Regional Association of Entrepreneurs and Employers" Atameken" non-governmental organization .
"Business Road Map-2020" State program subsidizing the interest rate on loans is virtually inaccessible for rural entrepreneurs.
It should be noted that today in the region only 3 among 15 banks providing lending within Business Road Map- 2020 program consider rural entrepreneurs' projects.
As the President said in his speech "the financial system does not sufficiently support industrialization of the country. Only 12 percents of loans of the whole banking sector are directed to industrial sector".
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