Fund Damu plans to get a loan from the ADB amounting to $ 500 million to September 2010

21.07.10 16:13
/IRBIS, July 21, 2010/ - JSC "Entrepreneurship Development Fund "Damu" plans to borrow $ 500 million from the Asian Development Bank in September 2010. Itar-Tass Chairman of the Board Mr. Bulat Mukushev at a news conference in Almaty. "We are entering the final stage of obtaining a loan from ADB. This will be the first major loan to the Kazakhstan Development Institute, after the crisis. For us it is very important as a first step towards diversification of funding sources," - said Mr. B. Mukushev. According to him, the term of the loan amount up to 15 years, the rate - LIBOR + 0.2%, special purpose - lending new projects of SMEs. Loan Guarantees by Ministry of Finance of the Republic of Kazakhstan. Fund "Damu" - National Institute of Development, 100% owned by JSC "National Welfare Fund SamrukKazyna. [2010-07-21]