Subsidiary Bank Sberbank of Russia signs agreement with Damu Entrepreneurship development fund on favorable lending to small and medium businesses
26.08.15 17:15
/KASE, August 4, 14/ – Subsidiary Bank Sberbank of Russia JSC (Almaty),
whose bonds are officially listed on Kazakhstan Stock Exchange (KASE), has by
an official letter informed KASE of the following:
quote
Lending to businesses is being implemented within the framework of state
programs for financing small and medium-sized businesses in the cities of
Astana and Almaty. SB Sberbank JSC signed an agreement on
participation in these programs with Damu.
Under the terms of the agreements KZT750 mln will be allocated for the financing
of Astana SMEs and KZT900 mln to finance Almaty entrepreneurs.
Entrepreneurs of Astana will receive a soft loan at a rate not exceeding 7.6%
per annum. Maximum loan amount – KZT200 mln up to 3 years for working capital
and up to 7 years for the purchase and modernization of fixed assets.
Entrepreneurs of Almaty will get a soft loan at 6.75%. The maximum loan amount
is KZT180 mln. The maturity depends on the purpose: up to 3 years for working
capital, up to 7 years for the purchase and modernization of fixed assets.
"Sberbank has always been actively involved in government programs to support
businesses.
We are confident that these programs fil give entrepreneurs of Almaty and
Astana an additional opportunity to realize their full economic potential and
develop new business activities" – according to Alexander Kamalov, the
Chairman of the Management Board of SB Sberbank JSC.
unquote
[2015-08-26]