/IRBIS, March 10, 2010/ - Effective rate for troubled companies amount to 7%, reported today the Prime Minister of Kazakhstan Mr. Karim Masimov at the plenary session Mazhilis Parliament of Kazakhstan.

"Some companies today are unable to serve until the end of the debts to banks. The banks have a situation arises that they have to bankrupt this company and take a security interest in the property itself in control. In fact, it would mean the bankruptcy of many private enterprises", - said Mr. K. Massimov.

He noted that for such enterprises banks reduce the debt load to 12%.

"Of those 12% will go to five per cent reduction in the cost of the loan - to subsidize interest rates on the same instance, as we have done for agriculture in recent years. That is the effective rate for this facility would be 7%", - said the head of the Government.

[2010-03-10]