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The “Damu” Fund has provided a credit line to JSC “Kazkommertsbank” in the sum of 1 billion tenge for financing the “Almaty Innovations” programme.

February 27, 2017 12:00 am

According to the statement, 500mln tenge of this sum - are the own funds of Damu and 500mln tenge are the funds of the Mayor's Office. Thus, the total pool of the funds to be spent on the Almaty Innovations programme is 1bln tenge.

The “Damu” Fund has already sent the first tranche in the amount of 500 million tenge to JSC “Kazkommertsbank”. In turn, under the terms of the contract, the bank must begin financing entrepreneurs of small and medium-sized businesses in Almaty for the product "Almaty Innovations" within 6 months.

Basic terms of financing:

The rate of remuneration for entrepreneurs is 8.5% per annum;

The maximum loan amount per one borrower is up to 100 million tenge.

Loan term - up to 84 months for the acquisition of new and modernization of fixed assets, as well as for replenishment of working capital.

The funds are provided only to finance projects of small and medium-sized businesses officially registered in Almaty.

The list of industries for the product "Almaty Innovations":

Manufacturing industry - production of computers, electronic and optical products; Manufacture of electrical equipment; Manufacture of machinery and equipment nec; Production of motor vehicles, trailers and semi-trailers.

Information and communication - communication, computer programming, consultations and other related services; Activities in the field of computer programming; Consulting services in the field of information technology; Data placement and processing services and other services.

Professional, scientific and technical activities - in the field of architecture, engineering surveys, technical testing and analysis; Research and development; Other professional, scientific and technical activities.

Healthcare and social services - activities in the field of health.