Eurasian bank JSC (Kazakhstan) announced about disbursement completion by the program of Small entrepreneurship development fund JSC

26.03.08 20:53
/KASE, March 26, 08/ - Eurasian bank JSC (Almaty), bonds of which are traded in Kazakhstan stock exchange's (KASE) category "A" official list, provided KASE by the press-release with the following contents: Quotation begin Eurasian bank JSC informed about disbursement completion that was evolved by the Program of entrepreneurship development fund. At the end of 2007 Small entrepreneurship development Fund JSC (in December 2007 was reformed to DAMU entrepreneurship development Fund JSC) within the framework of Program of conventional placement of means through the second tier banks (hereinafter - "SEDF" Program) evolved KZT48.8 bn. from the means, provided by the Government of the Republic of Kazakhstan for the support of small and middle entrepreneurship in Kazakhstan. More than KZT3 bn. was evolved to Eurasian bank in terms of credit means from the sum, mentioned above,. These means were directed on the development of the economy of the Republic with the support of small and middle business subjects in such entrepreneurship sectors as trade, production, industry, services, transport, and network. The term of credit provision is 84 months from the date of money emission by the Fund. Eurasian bank was the first bank among bank-partners of SEDF that realized complete prescheduled money absorption, evolved by the Program. More than 100 projects of different sector directivity were financed. The main criterion of selection of borrowers by this Program is stable business, operating not less than 3 months on the moment of filing of application. In the case of financing of a startup business, presence of own assets in the project not less than 30% is needed. Credit given to one borrower by the SEDF Program could not be more than 120 thousand of MCI and should have bid security. At the same time, not less than 51% of capital of borrower should be in private property of residents of the Republic. Today 18 branches are opened and successfully functioning by Eurasian bank, located in all regions of the country, which in no small measure contribute to the most complete coverage of all borrowers, who desired to receive a financing in the framework of this Program. Cooperation of the Bank with the Small Entrepreneurship Development Fund within the framework of the Program provided new opportunities to entrepreneurs for the strengthening of their positions on the market and widening of the business through the acquisition of additional means of financing. Press-Service Eurasian bank JSC +7 (727) 2 508 614, 2 443 943 Quotation end [2008-03-26]