Kazakhstan's Development Bank sets unified 12.6% business loan rateDevelopment Bank of Kazakhstan (DBK), a subsidiary of the national management holding Baiterek, has introduced a unified interest rate of 12.6% for new tenge-denominated investment projects, the bank announced.The move aims to strengthen support for entrepreneurs, aligning with market conditions and the government’s objectives to stimulate economic growth."This decision simplifies borrowing conditions and enhances access to long-term financing for Kazakh companies," the bank said. Previously, interest rates on tenge projects varied depending on funding sources and deal structures. Now, the bank will apply a uniform rate regardless of industry, region, or project scale.Additionally, under DBK’s newly approved program, businesses must commit to supporting domestic producers not only during construction but also throughout operations."In other words, goods and services required for operational activities under financed projects must be sourced from Kazakh manufacturers," the statement noted.Meanwhile, the Baiterek holding, backed by the government, offers a comprehensive solution for businesses: if collateral is insufficient, DBK can provide financing with guarantees from a new fund under the Damu Entrepreneurship Development Fund."This mechanism will greatly improve credit access for businesses that previously struggled to secure financing because of insufficient collateral," the bank explained. Firms receiving guarantees can obtain long-term DBK loans on favorable terms. Project initiators must contribute at least 20% equity, while the remaining 80% can be financed through second-tier banks or directly by DBK.The guarantee covers up to 30% of project costs, reducing lender risks and improving financing accessibility.The bank forecasts its guarantee portfolio will reach 1 trillion tenge by 2027, supporting over 50,000 projects annually, five times more than in 2024. Priority will be given to projects reducing import dependency, developing infrastructure, and promoting non-commodity exports. The bank also plans to expand syndicated loans, where multiple financial institutions share risks and increase funding for large-scale projects.Established in 2001, DBK finances medium- and long-term investments in production infrastructure and non-resource sectors, facilitating foreign and domestic investment in Kazakhstan’s economy. It operates under the Baiterek holding. (ICE ALMATY)

Fonte notizia: INTERFAX