Alliance Bank (Kazakhstan) accepts students' applications for participation in soft loan program for high education

/KASE, March 24, 09/ - Alliance Bank (Almaty), a company listed on Kazakhstan Stock Exchange (KASE), provided KASE with a press release of March 24, 2009 of the following content: Quotation beginning Today Alliance Bank began to accept applications from students, willing to partake in the soft credit program for high education. All 64 high schools, which engaged in the program arranged a special working place for a credit officer who is responsible for receipt of applications and all required documents for participation in the program. In future documents will be submitted for consideration of the Alliance Bank credit committee, which is authorized to make decisions on granting credits for receipt of high education. It was informed earlier; the soft loan for students program was developed by National wellbeing fund Samruk-Kazyna jointly with the Ministry of Education and Ministry of Health Care on request of the State head. According to a decision of the Board of Directors of National wellbeing fund Samruk-Kazyna, Alliance Bank was selected as a bank-agent for use of funds allocated by the state for implementation of the program. Soft crediting of students is aimed at provisioning of availability of high education for socially vulnerable strata. According to the terms of the program, credits for education are intended for students, studying or willing to study in Kazakhstan high schools on a payment basis in technical, scientific and medical specialties at full-time form of study. The program covers: - students-orphans, and those without care of parents; - students-invalids, or those with parents who are invalids; - students coming from large families or incomplete families; - students, whose parents are pensioners; - other categories of students, as determined by the decision of the Ministry of education of the Republic of Kazakhstan. The soft loan program is unique with 9 % APR credit rate and no other commissions. According to the program, soft loans for education shall be provided for 15 years. The credit may be securitized with a real estate or a guarantee from Finansoviy Tsentr JSC or a high school. * The list of high schools participating in the program is being formed by the Ministry of Education and Science of the Republic of Kazakhstan. The list may be extended in future. Quotation end [2009-03-24]