Recall that DBK has allocated 4 billion tenge to Nurbank for long-term financing of projects in the manufacturing industry through commercial banks. The credit funds are provided from the National Fund within the framework of the Joint Action Plan of the Government and the National Bank of the Republic of Kazakhstan to ensure financing of entrepreneurship entities in the manufacturing industry.
The program involves a total of thirteen second-tier banks (STB) with which JSC ‘Development Bank of Kazakhstan’ (a subsidiary of JSC 'National Managing Holding 'Baiterek', hereinafter referred to as the Bank, DBK) concluded the relevant credit agreements on December 9 this year in Almaty. According to the approved financing scheme, the 'Baiterek' Holding provides the Development Bank with a loan from the National Fund amounting to 50 billion tenge for long-term financing through the STB of projects in the manufacturing industry (a total of 23 sectors, including food production, clothing, paper products, oil refining, etc.). The list of thirteen partner banks, as well as the financing limits for each bank, is approved by the decision of the State Commission on Economic Modernization: JSC 'Halyk Bank of Kazakhstan' (8 billion tenge), JSC 'Kazkommertsbank' (8 billion tenge), DB JSC 'Sberbank of Russia' (4 billion tenge), JSC 'Eurasian Bank' (2 billion tenge), JSC 'Bank Center Credit' (3 billion tenge), JSC 'Tsesnabank' (3 billion tenge), JSC 'Kazinvestbank' (3 billion tenge), JSC 'Delta Bank' (3 billion tenge), JSC 'Temirbank' (3 billion tenge), JSC 'Nurbank' (4 billion tenge), JSC 'AsiaCreditBank' (3 billion tenge), JSC 'Bank RBK' (3 billion tenge), JSC 'ATF Bank' (3 billion tenge).
The lending terms for final borrowers, approved by Government Decree No. 1276 of December 5 this year, are as follows:
In accordance with the terms of interbank financing, partner banks are prohibited from directing allocated funds for refinancing existing loans and purchasing foreign currency. In addition, financing is prohibited for the production of excisable products, as well as organizations in which the state owns 51% or more, or whose founders are national companies or holdings. The period for mastering the credit resources is 18 months, and the Development Bank will conduct regular monitoring of the targeted use of funds.
