Cooperation Agreements within the Framework of the Business Roadmap 2020 Program
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    • Cooperation Agreements within the Framework of the Business Roadmap 2020 Program

    Dear clients!

    On May 14, 2010, JSC "Nurbank", the Ministry of Economic Development and Trade of the Republic of Kazakhstan, city and regional Akimats, JSC "Entrepreneurship Development Fund "Damu", and AFK signed Cooperation Agreements within the framework of the implementation of the Business Roadmap 2020 Program.

    The Business Roadmap 2020 Program is designed to implement the message of the President of the Republic of Kazakhstan to the people of Kazakhstan "New Decade – New Economic Growth – New Opportunities for Kazakhstan" and the Strategic Development Plan of Kazakhstan until 2020.

    The goal of the Business Roadmap 2020 Program is to ensure sustainable and balanced growth of regional entrepreneurship in non-commodity sectors of the economy, as well as to preserve existing and create new permanent jobs.

    I. Conditions of the Business Roadmap 2020 Program within the implementation of the first and third directions

    1. Target group - SMEs and Exporters;

    SMEs - Small and Medium-sized Enterprises registered under the legislation of the Republic of Kazakhstan and operating in prioritized sectors of the economy specified in the OKED.

    Exporter - A private entrepreneurship entity exporting more than 10% of its products in all sectors of the economy.

    The first direction "Support for Business Initiatives" implies providing government support for the implementation of Projects in non-commodity sectors of the economy in accordance with the OKED and priorities of the State Program of Accelerated Industrial-Innovative Development (GPIIIR).

    The third direction "Support for Export-Oriented Production" aims to support Exporters exporting products to foreign markets.

    2. SME/Exporter Loans eligible for Subsidy:

    • for the first direction: new loans granted for the implementation of investment Projects, as well as Projects aimed at modernization and expansion of production, with a nominal remuneration rate not exceeding 12% per annum and valid loans issued after January 1, 2010, for these purposes;
    • for the third direction: valid loans for Projects aimed at modernization and expansion of production, with a nominal remuneration rate not exceeding 12% per annum.

    3. SME/Exporter Loans not eligible for Subsidy:

    • loans issued for projects that provide for the production of excisable goods;
    • loans in which direct creditors are state development institutions;
    • loans to SMEs/Exporters related to enterprises in the metallurgical industry processing mineral raw materials and included in the List of major taxpayers monitored according to the resolution of the Government of the Republic of Kazakhstan from December 31, 2008, No. 1344;
    • loans issued by financial organizations for the processing of agricultural products, which are subsidized;
    • loans to Exporters related to enterprises in the mining industry.

    4. Requirements for participation in the project with own funds:

    The SME must ensure participation in the implementation of the Project with its own funds at a level not lower than 15% of the total cost of the Project implementation, or participation in the implementation of the Project with its movable/immovable property at a level not lower than 25% of the total cost of the Project implementation.

    5. Subsidy amount for the first direction:

    for a loan with a nominal remuneration rate not exceeding 12%, of which no more than 7% is paid by the SME, and 5% by the Financial Agent.

    6. Subsidy amount for the third direction:

    for a loan with a nominal remuneration rate not exceeding 12%, of which no more than 4% is paid by the Exporter, and 8% by the Financial Agent.

    7. Loan amount eligible for Subsidy:

    cannot exceed 3 billion tenge for each individual Project of the SME/Exporter. The loan amount(s) is calculated separately for each SME/Exporter project without taking into account the debt on the loan(s) of affiliated persons/companies. In case the total amount of the loan(s)/remaining principal debt on the loan granted for a specific Project of the SME/Exporter exceeds 3 billion tenge, the SME/Exporter is entitled to receive state support in the form of Subsidy within the limit of 3 billion tenge for one Project.

    8. Subsidy period:

    from 1 (one) to 3 (three) years, with the possibility of further extension up to 10 years.

    9. Mandatory requirements for SMEs/Exporters to participate in the Program:

    • absence of tax arrears, debts on mandatory pension contributions and social deductions, at the time of application;
    • the SME/Exporter project should be implemented in the territory of the region where funds for subsidies are allocated.

    10. Grounds for termination of the subsidy:

    • full early repayment of the loan by the SME/Exporter under the Bank loan agreement. The date of termination of the subsidy will be considered the date of full repayment of funds by the SME/Exporter to the Bank;
    • by decision of the Authorized body.

    11. Provision of subsidies for loans is made in tenge.

    (If the loan was issued in foreign currency, it can be subsidized only on condition of currency conversion into tenge, at the exchange rate set by the National Bank of the Republic of Kazakhstan on the date of the RKS protocol on the decision to subsidize the Entrepreneur).

    II. Conditions of the Business Roadmap 2020 Program within the implementation of the Second direction "Restoration of the Entrepreneurial Sector"

    1. Program participants:

    • Debtors operating in priority sectors of the economy in accordance with the OKED, receiving state financial support through second-tier banks within the framework of Stabilization and anti-crisis programs.
    • Debtors operating in priority sectors of the economy (in accordance with the general classifier of types of economic activity (hereinafter - OKED), approved by the order of the Chairman of the Committee for Technical Regulation and Methodology of the Ministry of Industry and Trade of the Republic of Kazakhstan from December 14, 2007, No. 683-od) according to Appendix No. 1 to the Program.

    Debtors cannot be Program participants if they:

    • are in the metallurgical industry, processing mineral raw materials and included in the List of major taxpayers monitored according to the resolution of the Government of the Republic of Kazakhstan from December 31, 2008, No. 1344;
    • did not agree to disclose full information on their financial-economic condition, loans and other debts;
    • did not approve the Recovery Plan with the creditors' Committee.

    2. Loans eligible for Subsidy:

    • active loan (at the time of approval) and for new debt within the existing credit line, which will arise after the Project is approved with a nominal remuneration rate not exceeding 12% per annum;
    • subsidy is eligible for existing loans classified according to the Rules for classification of assets, contingent liabilities and creation of provisions (reserves) against them approved by the resolution of the Board of the Agency of the Republic of Kazakhstan for regulation and supervision of the financial market and financial organizations from December 25, 2006, No. 296, as:
      • standard;
      doubtful 1 category;
      doubtful 2 category;
      doubtful 3 category;
      doubtful 4 category;
      doubtful 5 category;
      — hopeless.

    3. Loans not eligible for Subsidy:

    • issued for projects providing for the production of excisable goods;
    • issued by financial institutions for the processing of agricultural products, which are subsidized;
    • where the lender is a state development institution.

    4. Application deadline for borrowers to participate in the program

    until the end of 2010;

    5. Subsidy amount:

    for a loan with a nominal remuneration rate not exceeding 12%, of which no more than 7% is paid by the Debtor, and 5% by the Financial Agent.

    6. Loan currency - tenge

    (If the loan was issued, in foreign currency it can be subsidized only on condition of converting the loan currency into tenge, at the rate set by the National Bank of the Republic of Kazakhstan on the date of the conclusion of the Subsidy Agreement).

    7. Loan amount eligible for Subsidy:

    cannot exceed 3 billion tenge for each individual Project of the Debtor. The loan amount(s) is calculated separately for each Debtor Project without taking into account the debt on the loan(s) of affiliated persons/companies. In case the total loan amount (s)/remaining principal debt on the loan issued for a specific Project of the Debtor exceeds 3 billion tenge, the Debtor is entitled to receive state support in the form of Subsidy within the limit of 3 billion tenge for one Project. If the Debtor's loan amount (s) for one Project exceeds 3 billion tenge, the State Commission, based on the significance and prospects of the Debtor Project, has the right to decide on its participation in the second direction of the Program.

    8. The Subsidy period cannot exceed 3 (three) years.

    9. Grounds for termination of the subsidy:

    • full early repayment of the loan by the Debtor under the bank loan agreement. The date of termination of the subsidy will be considered the date of full repayment of funds by the Debtor to the Bank;
    • by decision of the State Commission/Government of the Republic of Kazakhstan;

    III. Explanations on the Business Roadmap 2020 Program within the framework of guaranteeing second-tier bank loans to private entrepreneurship entities within the implementation of the first direction

    1. Program participants: SMEs

    2. Loans of SMEs eligible for Guarantee:

    new loans issued by Banks for the implementation of new projects, as well as for ongoing projects aimed at modernization and expansion of production.

    3. Loans of SMEs not eligible for Guarantee:

    • loans issued for Projects providing for the production of excisable goods;
    • loans issued for replenishment of working capital, except in cases where working capital financing is carried out within the framework of a loan for the acquisition and/or modernization of fixed assets, but no more than 20% of the loan amount;
    • loans to SMEs related to enterprises in the metallurgical industry, processing mineral raw materials and included in the List of major taxpayers monitored according to the Government resolution of the Republic of Kazakhstan from December 31, 2008, No. 1344.

    4. Requirements for participation in the project with own funds:

    SME must ensure participation in the implementation of the Project with its own funds at a level not lower than 15% of the total cost of the Project implementation, or participation in the implementation of the Project with its movable/immovable property at a level not lower than 25% of the total cost of the Project implementation.

    5. Maximum guarantee amount

    not higher than 50% of the loan amount;

    6. Loan amount eligible for Guarantee:

    The loan amount(s) for which a Guarantee is provided cannot exceed 3 billion tenge for each individual SME Project. The loan amount(s) is calculated separately for each SME Project without taking into account the debt on the loan(s) of affiliated persons/companies. In case the total loan amount(s) issued for a specific SME Project exceeds 3 billion tenge, the SME is entitled to receive state support in the form of Guarantee within the limit of 3 billion tenge for one Project.

    7. Maximum guarantee period:

    cannot exceed 10 years;

    8. Mandatory requirements for SMEs to participate in the Program:

    • absence of tax arrears, debts on mandatory pension contributions and social deductions for the last reporting period;
    • the SME project should be implemented in the territory of the region where funds for guarantees are allocated.
    27.05.2010