Halyk Savings Bank of Kazakhstan announces participation in government program for support of SME in manufacturing industry

22.01.15 16:57
/KASE, January 22, 15/ – Halyk Savings Bank of Kazakhstan JSC (Almaty), whose securities are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following press-release: quote Halyk Savings Bank of Kazakhstan and FSE "Damu" have begun joint work on government program for support of entities of small and medium businesses in the manufacturing industry and services sector, related to maintenance of this sector of economy. This program provides for utilization of funds to the amount of KZT50 bn, provided by the government to 13 second-tier banks for support of entrepreneurs in the manufacturing industry and associated sector service. Halyk Bank is supposed to utilize KZT6 bn. Under the programs loans will be designated for purchase of new fixed assets, construction and modernization of fixed assets under projects of Final borrowers in the manufacturing industry and service sector – at least 50 % of the Loan amount; for replenishment of fixed assets on projects of Final borrowers in the manufacturing industry – not more than 50 % of the Loan amount. The nominal rate will make up not more than 6% per annum. The maximum limit per borrower – KZT1,850 mln. The loan term – not longer than 120 months. unquote The full version of the press-release is available on KASE website at: - http://www.kase.kz/files/emitters/HSBK/hsbk_reliz_210115_k.pdf – in Kazakh; - http://www.kase.kz/files/emitters/HSBK/hsbk_reliz_210115.pdf – in Russian. [2015-01-22]