Financing granted for over 40 schemes under Almaty Business 2025 initiative
In the heart of Kazakhstan, the city of Almaty is witnessing a surge in entrepreneurship, thanks to the regional business support programme Almaty Business 2025. Established in 2019, this initiative aims to create an enabling environment for businesses, increase access to financing, and attract investors.
One of the key players in this endeavour is Almaty Finance, a credit organization that provides funding for businesses registered exclusively in Almaty. Recently, Zhanar Salimbayev, Deputy Chairman of the Board of Almaty Finance LLP, announced that 42 projects have been approved for financing, totalling an impressive 8.3 billion tenge.
Of these approved projects, 26 have already received funding amounting to 6.8 billion tenge. The loan term for projects outside of the industrial park is up to seven years, with the funds intended for working capital and investment purposes. For other business sectors, loans are issued at 6% with a loan limit of 500 million tenge. However, for businesses operating within the industrial park, loans are offered at a lower interest rate of 2% per annum, with a maximum loan amount of 70 million tenge.
The projects funded under this programme span various sectors, including laboratory testing, coffee bean roasting, sewing, furniture and hardware production, metal products, stationery, hygiene products, industrial park construction, IT industry projects, and a three-component integrated system. Some of the specific IT projects include electronic payment organization and processing services, and the creation of a three-component integrated system.
The majority of the loans issued by Almaty Finance have been for light industry projects (6 projects), furniture industry (5 projects), healthcare (4 projects), and education and sports (2 projects). Currently, projects worth 800 million tenge are in detailed processing.
The implementation of these projects is expected to create over a hundred jobs, contributing to the city's economic growth and employment opportunities. Almaty Finance, a credit organization established as part of the regional business support program, is playing a significant role in this transformation, at the initiative of Akim Bакытжан Сагинтаев.
However, it's worth noting that the current status and impact of the financial support measures for entrepreneurs under the Almaty Business 2025 program as reported specifically by Almaty.tv cannot be confirmed or detailed here due to a lack of specific information in the available sources. For updates on Almaty’s economic initiatives, it's recommended to visit Almaty.tv directly or follow the latest news on the programme.
In the context of Almaty Business 2025, the regional business support programme in Almaty, Almaty Finance, a credit organization, provides funding for businesses within the city. The funded projects, spanning various industries such as IT, healthcare, education, light industry, furniture, and more, are designed to drive economic growth and job creation in the city.
