Development Bank of Kazakhstan JSC expands loan guarantee instruments for medium and large businesses

04.07.24 12:55
/KASE, 04.07.24/ – Development Bank of Kazakhstan JSC (Astana), with its bonds officially listed on Kazakhstan Stock Exchange (KASE), provided KASE with a press release dated July 04, 2024, which reads as follows start of quote Development Bank of Kazakhstan JSC (a subsidiary of Baiterek holding, hereinafter referred to as the Bank, DBK) presented new mechanisms for providing guarantees for medium and large businesses in second-tier banks (STBs). The mechanisms are approved by the Rules for partial guarantees for loans to private businesses (Rules), developed by DBK jointly with the Ministry of National Economy and approved by the Decree of the Government of the Republic of Kazakhstan dated July 2, 2024, in pursuance of the National Action Plan for implementation of the Message of President Kassym-Jomart Tokayev to the people of Kazakhstan “Economic Course of Fair Kazakhstan" dated September 1, 2023. Within the Rules, two new mechanisms are introduced into the DBK guarantee instruments: - provision of a guarantee from DBK to business entities with subsidized commission for risks; - provision of DBK guarantees to business entities with the provision of preferential financing to STBs. end of quote Full text of the press release is available at https://kase.kz/files/emitters/BRKZ/brkz_relizs_040724_1.pdf [2024-07-04]