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Interest Rates Subsidies

Subsidization is a form of state financial support to entrepreneurs, used for partial reimbursement of costs paid by entrepreneur to the bank, as an interest on loans in exchange for the fulfillment of certain conditions in the future, relating to the operating activities of the entrepreneur.

Subsidization Terms:

  • subsidies are only granted for new loans/leasing contracts issued not earlier than 12 months before their presentation to the RCC;
  • amount of loan/leasing transactions - up to 4.5 bln. tenge;
  • amount of subsidies - 7% for projects in priority sectors of economy;
    10% for industrial projects without sectorial restrictions in single-industry towns, small towns and rural areas;
    10% for projects in priority sectors of manufacturing industry;
    4% and 5% for currency / "KZT" development loans (see. detailed conditions below).
  • Subsidization period for loans/leasing transactions - up to 3 years with an extension option of up to 6 years.

Which purposes should a loan be provided for?

  • implementation of new investment projects;
  • current assets financing, but not more than 30% of the loan amount;
  • acquisition and/or refurbishment of fixed assets and/or expansion of production.

How to obtain a subsidy?

  • 1
    Entrepreneur applies to the bank/leasing company for a loan / lease
  • 2
    The Bank/Leasing company evaluates the project for the granting of loan/lease
  • 3
    Entrepreneur, having obtained approval of the bank/leasing company sends the loan documents to akimat (city hall, Local/Regional program coordinator)
  • 4
    Local/Regional Coordinator shall present the subsidization issue of to the Regional Coordinating Council (RCC)
  • 5
    RCC gives an approval and sends it to the bank/leasing company and to "Damu" Fund
  • 6
    Bank/leasing company enters into a tripartite agreement with the entrepreneur and “Damu” Fund
  • 7
    On the basis of the agreement "Damu" Fund transfers to the bank/leasing company the subsidized part of the interest rate on the entrepreneur’s loan/lease

Interest rates Subsidization for SME Projects

Subsidization of projects in single-industry towns, small towns and rural areas
  • Amount of subsidy

    10% (fixed) * of remuneration rate under the loan/leasing

    Subsidization Period

    3 years, with the possible extension of subsidization for up to 6 years

    Financed Sector

    With no sectoral restrictions

    Subsidization Type

    periodic payments on a gratuitous and irrevocable basis, performed by "Damu" Fund to the bank under a trilateral agreement

  • Purpose of the loan
    • Investments **;
    • Acquisition of new and/or refurbishment of fixed assets;
    • Financing of the current assets ***;
    Own participation in the project

    For loan(s) exceeding 180 million tenge entrepreneur must ensure the participation in the project implementation of his own funds in the amount of 10% of the project value (money, movable / immovable property)

  • Max amount of loan/lease

    Up to 750.0 million tenge

    Interest rate on the loan
    • no more than 14% per annum for the STBs;
    • no more than 13%**** for the Development Bank.
    Currency of the loan/lease

    tenge

    Period of the loan/lease
    • up to 12 months on new loans / leasing contracts;
    • no more than 4 years from the date of original issue.
    Special condition

    For RCC-approved projects the bank/leasing company reimburses previously received commission fees and/or other payments in the current financial year.


* - the occurring difference shall be paid by the entrepreneur (for example, if the interest rate on a loan is 13%, then 10% is paid by the state (through "Damu" Fund), and the remaining 3% of the interest the entrepreneur repays to the bank on his own).

** - it is allowed to finance the current assets under a credit for the investment, but not more than 30% of the total amount of loan.

*** - subsidization of loan of up to 60.0 million tenge, 100% (inclusive) intended for financing of the current assets, subject to the guarantee of "Damu" Fund.

**** - subject to the guarantee of "Damu" Fund.

Subsidization of projects in priority sectors of economy
  • Amount of subsidy
    • 7% (fixed) * of the interest rate on the loan/lease;
    • 5% (fixed) * of the interest rate on foreign currency** loan/lease;
    • 5% (fixed) * of the interest rate on the loan/lease for the Development Bank (in tenge);
    • 4% (fixed) * of the interest rate on foreign currency ** loan/lease of the Development Bank.
    Subsidization Period

    3 years, with the possible extension of subsidization for up to 6 years

    Financed Sector

    In priority sectors of economy based on BRM-2020 Unified program

    Subsidization Type

    periodic payments on a gratuitous and irrevocable basis, made by "Damu" Fund to the bank under a trilateral agreement

  • Purpose of the loan
    • Investments ***;
    • Acquisition of new and/or refurbishment of fixed assets;
    • Financing of the current assets ****;
    Own participation in the project

    For loan(s) exceeding 180 million tenge entrepreneur must ensure the participation in the project implementation of his own funds in the amount of 10% of the project value (money, movable / immovable property)

  • Maximum amount of loan/lease

    Up to 4,5 bln. tenge

    Interest rate on the loan
    • no more than 14% per annum for the STBs;
    • no more than 13% per annum for the Development Bank.
    Currency of the loan/lease

    tenge, foreign currency

    Period of the loan/lease
    • up to 12 months on new loans / leasing contracts;
    • no more than 4 years from the date of original issue.
    Special condition

    For RCC-approved projects the bank/leasing company reimburses previously received commission fees and/or other payments in the current financial year.


* - the occurring difference shall be paid by the entrepreneur (for example, if the interest rate on a loan is 13%, then 7% (5% in foreign currency) is paid by the state (through "Damu" Fund), and the remaining 6% (8% in foreign currency) of the interest the entrepreneur repays to the bank on his own).

** - in the presence of foreign currency earnings of at least 10% of total proceeds in cash.

*** - subsidization of current assets financing is allowed as part of loan for investment, but not more than 30% of the total amount of loan.

**** - subsidization of loan of up to 60.0 million tenge, 100% (inclusive) intended for financing of the current assets, subject to the guarantee of "Damu" Fund.

Subsidization of projects in priority sectors of economy
  • Amount of subsidy
    • 10% (fixed) * of the interest rate on the loan/lease;
    • 5% (fixed) * of the interest rate on foreign currency** loan/lease;
    • 4% (fixed) * of the interest rate on foreign currency ** loan/lease of the Development Bank.
    Subsidization Period

    3 years, with the possible extension of subsidization for up to 6 years

    Financed Sector

    In priority sectors of manufacturing industry based on SPIID

    Subsidization Type

    periodic payments on a gratuitous and irrevocable basis, made by "Damu" Fund to the bank under a trilateral agreement

  • Purpose of the loan
    • Investments ***;
    • Acquisition of new and/or refurbishment of fixed assets;
    • Financing of the current assets ****;
    Own participation in the project

    For loan(s) exceeding 180 million tenge entrepreneur must ensure the participation in the project implementation of his own funds in the amount of 10% of the project value (money, movable / immovable property)

  • Maximum amount of loan/lease

    Up to 4,5 bln. tenge

    Interest rate on the loan
    • no more than 14% per annum for the STBs;
    • no more than 13% for the Development Bank.
    Currency of the loan/lease

    tenge, foreign currency

    Period of the loan/lease
    • up to 12 months on new loans / leasing contracts;
    • no more than 4 years from the date of original issue.
    Special condition

    For RCC-approved projects the bank/leasing company reimburses previously received commission fees and/or other payments in the current financial year.


* - the occurring difference shall be paid by the entrepreneur (for example, if the interest rate on a loan is 13%, then 10% (5% in foreign currency) is paid by the state (through "Damu" Fund), and the remaining 3% (8% in foreign currency) of the interest the entrepreneur repays to the bank on his own).

** - in the presence of foreign currency earnings of at least 10% of total proceeds in cash.

*** - subsidization of current assets financing is allowed as part of loan for investment, but not more than 30% of the total amount of loan.

**** - subsidization of loan of up to 60.0 million tenge, 100% (inclusive) intended for financing of the current assets, subject to the guarantee of "Damu" Fund.

Subsidization Program Restrictions

Under the program, the following subsidization of SMEs and their projects/loans/leases shall be prohibited:

  • leaseback;

  • secondary lease;

  • subleasing;

  • as overdraft facilities;

  • to purchase shares and stocks of organizations and enterprises as asset groups;

  • granted by public development institutions, with the exception of the Development Bank;

  • interest rate on which has been made cheaper through the budget;

  • granted for the acquisition of hotels and hotel complexes;

  • carrying out the release of excisable goods/products, with the exception of projects involving the release of motor vehicles and manufacture of wines from grapes of own production;

  • metal industry, which are included in the list of large taxpayers subject to monitoring in accordance with the Government Decree of December 31, 2014 № 1434

  • operating in mining industry, with the exception of projects for the development of gravel and sand pits;

  • founded by National Management Holdings (NMH), Holdings Companies (HC), National Companies (NC) and organizations, fifty and more percent of shares (participation interests in the authorized capital) directly or indirectly owned by the state, NMH, HC, NC (except for socio-entrepreneurial corporations), as well as legal entities, ownership of which is registered as a private institution.

Banks participating in Subsidization Program

  • «Kazcommercebank» JSC

  • «Bank Center Credit» JSC

  • «Halyk Bank» JSC

  • «ForteBank» JSC

  • «AsiaCredit Bank» JSC

  • «Delta Bank» JSC

  • Subsidiary Bank of «Sberbank of Russia» JSC

  • «Eurasian Bank» JSC

  • «Bank RBK» JSC

  • «ATF Bank» JSC

  • «Tsesna Bank» JSC

  • «Nurbank» JSC

  • «KazInvestBank» JSC

  • Subsidiary Bank «Alfa Bank» JSC

  • «Kassa Nova Bank» JSC

  • Subsidiary Bank «VTB Bank (Kazakhstan)» JSC

  • «Bank of Astana» JSC

  • «Kazakhstan Development Bank» JSC

  • «Eximbank Kazakhstan» JSC

  • «Altyn Bank» JSC

  • «Qazaq Banki» JSC

  • «Zaman Bank» JSC

  • «Capital Bank Kazakhstan» JSC

  • «Kaspi Bank» JSC

  • «Subsidiary Bank «RBS (Kazakhstan)» JSC

  • «Subsidiary Bank «Kazakhstan-Ziraat International Bank» JSC

  • Subsidiary Bank of «Homecredit and Finance Bank» JSC
    («MB «Alma-Ata» JSC)

  • «Shinkhan Bank Kazakhstan» JSC

  • «Citybank Kazakhstan» JSC

  • «BankPositiv (Subsidiary Bank of Apoalim Bank B.M.)» JSC

  • Subsidiary Bank «Back of China Kazakhstan» JSC

  • «Industrial and Commercial Bank of China in Almaty» JSC

  • Subsidiary Bank «National Bank of Pakistan» JSC in Kazakhstan

  • Subsidiary Bank «Punjab National Bank - Kazakhstan» JSC

  • «Islamic Bank «Al-Hilal» JSC

Leasing companies participating in Subsidization Program

  • «Subsidiary company of «Kazakhstan Development Bank» JSC «KDB-Leasing» JSC

  • «Sberbank Leasing Kazakhstan» Ltd.

  • «Subsidiary company of «Nurbank» JSC «NurLeaseing» leasing company» Ltd.» JSC

  • «ForteLeasing» JSC

  • «Eurasian Leasing» Ltd.

  • «Astana Finance» leasing company» JSC

  • «Astana Motors Leasing» Ltd.

  • «SK Лизинг» JSC

  • «Leasing group» JSC

  • «TechnoLeasing» Ltd.

  • «Zaman-Leasing» Ltd.