Microfinance institution for entrepreneurs to be opened in Kazakhstan based on Turkish experience

ASTANA. KAZINFORM - Based on Turkish experience Kazakhstan will open a microfinance institution for entrepreneurs, Head of the National Entrepreneurs Chamber of Kazakhstan Ablai Myrzakhmetov said at the CCS media briefing.

"Last year, we talked about our intention to establish a microlending fund based on the experience of Turkey. Do you remember that we wanted to help our manufacturers without any deposits and guarantees? We understood that it would be better to show everything we planned by example. We signed the agreement with "Baiterek". We now work on establishment of such a fund jointly with "Damu" this year," A. Myrzakhmetov said.

He also noted that the financial institution would be opened in a pilot mode.