President instructs to provide soft loans to SMEs affected by pandemic

NUR-SULTAN. KAZINFORM - President of Kazakhstan Kassym-Jomart Tokayev has instructed to provide soft loans for operating assets of SMEs in the amount of KZT600 billion, Kazinform reported.

«In order to support SMEs affected by the coronavirus, I instruct the National Bank, together with the Agency for Financial Market Regulation, to provide soft loans for operating assets of SMEs in the amount of KZT600 billion for one year at 8% rate for a borrower,» the Head of State’s Twitter account reads.

«The National Bank is obliged to provide a clear mechanism for bringing funds to the ultimate borrower. Given the increase in funding of the Economics of Simple Things program, domestic business support will be amounted to KZT1 trillion. The Government is responsible for the targeted use of the allocated funds,» Kassym-Jomart Tokayev emphasized.