Subsidiary Organization VTB Bank (Kazakhstan) continues SME funding under "Astana Business-2" program
12.02.20 14:50
/KASE, February 12, 2020/ – Subsidiary Organization VTB Bank (Kazakhstan)
JSC (Almaty), whose bonds are officially listed on Kazakhstan Stock Exchange
(KASE), has provided KASE with the following press release dated February 12,
2020:
quote
The Bank signed another loan agreement with the DAMU Fund and the capital
Akimat on re-participation in the Program of regional financing of small and
medium-sized businesses in Nur-Sultan city – “Astana Business-2” for the
amount of KZT 300 million, 50% of which was allocated by the city Akimat and
another 50% – by the Fund.
Under this program, VTB Bank (Kazakhstan) will provide soft loans to beginners
and operating businessmen of the capital at a nominal interest rate of up to
8.5% per annum.
- "VTB Bank (Kazakhstan) in cooperation with Damu Entrepreneurship
Development Fund, has already implemented many projects that provide serious
support to the SME sector”, - says Igor Li, Member of the Management Board of
VTB Bank (Kazakhstan). – “The Bank has already participated in the Astana
Business program in 2017 and the Astana Business-2 program in 2019, issuing
soft loans to the capital business for the total amount of half a billion tenge.
Having successfully mastered past tranches, we appreciated the high demand of
the capital's business for such financing and decided to take part in the
project again".
unquote
[2020-02-12]