How Baiterek holding supports youth in Kazakhstan

ASTANA. KAZINFORM Being an administrator of socially-oriented governmental programmes, Baiterek Holding and its daughter companies play an important role in providing Kazakhstanis with affordable housing, jobs and business development tools.

The Holding offers a number of projects aimed at implementation of youth initiatives.

One of them is support of youth entrepreneurship through the Damu Fund.

Under the 2017-2021 Programme of Productive Employment and Mass Entrepreneurship Development programme (Enbek), burgeoning entrepreneurs from micro- and small businesses may apply for up to 8,000MCI (monthly calculated index) loans at the interest rate not exceeding 6% for a 5-year period. Besides, the programme participants may receive up to 85% of loan guarantee.

In 2018, Damu Fund launched a crowd-funding service - the way of collective financing of the projects (consumers provide finances for the manufacture of goods or services). The Fund offers also consultations to young entrepreneurs on application and business promotion at Starttime.kz platform and in mass media, in applying for various governmental grants etc.

Together with local authorities, Damu Fund implements several programmes for young entrepreneurs, such as Astana ZhasStart and Aktobe ZhasStart. The amount of loan up to 20mn tenge is issued at the rate of 8.5%.

Under Astana Start Up programme, young people may get up to 50mn tenge of loan at the rate 7.9%.

Among other initiatives are Nur Capital programme launched in Mangistau region, Qos Qoldau (Kostanay region), Damu Akzhayik (West Kazakhstan region), Altyn Keme (Atyrau region) and Zhibek Zholy (Almaty) etc.

The second area of support is provision of housing to young people through the Housing Construction Savings Bank of Kazakhstan. The mortgage loan is provided at the annual rate of 5% for a 9-year period.

Besides, one more daughter company of the Holding - Development Bank of Kazakhstan - together with Taiburyl Association implements Kerek Adam socio-educational project. The project aims at popularization and development of engineering and technical competences in Kazakhstan. Thus, the 3rd and 4th year students and graduates of colleges and universities (2015-2018) may apply for a salaried traineeship at the country's major enterprises.

Baiterek Holding and its organizations are planning to continue providing all-round support to young Kazakhstanis in doing business, employment and getting housing as well as in implementation of new promising projects.