At the Government meeting Chairman of NCE "Atameken" Ablai Myrzakhmetov announced a number of measures to improve credit availability for small and medium-sized businesses.

According to A.Myrzakhmetov, credit levels after decrease in the first quarter of this year, now experience gradual growthm and that is due to adjustments of tenge rate.

"At unstable loan dynamics of legal entities the SME loans are steadily growing. Growth of SME loans reached 47.7% in July 2016 to July 2015. Such results were achieved due to the state's strong support," the speaker said.

Chairman of NCE named a number of measures which, according to entrepreneurs, would make loans more affordable for businesses.

In order to support the “Business Roadmap-2020” program it is proposed to establish a floating rate for subsidies depending on the base rate of the National Bank of Kazakhstan. This measure will lead to increase availability of liquidity to entrepreneurs.

In addition, there was made a proposal on introducing mechanism of subsidizing of the coupon alowances, which will help to create equal conditions for all kinds of business financing sources and allow entrepreneurs to determine ways to attract funding.

As well there was a proposal to review "efficient project" concept in the framework of "Business Roadmap-2020", it is difficult for borrowers to maintain growth of all indicators of economic activity.

In addition, he announced a proposal to resume the so-called "Rehabilitation program" for large business entities, since the state of big business depends on successful functioning of the SME companies engaged in service or contract work for large enterprises.

www.primeminister.kz

Published: 27 September 2016

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