Subsidiary Bank Sberbank of Russia, Baiterek Venture Fund and Kazyna Capital Management sign memorandum of understanding on mutual cooperation

/KASE, May 16, 2019/ – Subsidiary Bank Sberbank of Russia (Almaty), whose bonds are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following press release of May 16, 2019: quote Kazyna Capital Management presented a Program of Сoncessional Financing to the Capital, the total amount of which is 50 billion tenge, to the representatives of business community. The unique feature of this Program, which is developed within implementation of the Message of the First President of the Republic of Kazakhstan to the People of Kazakhstan “New Decade - New Economic Growth - New Opportunities for Kazakhstan”, is the ability of entrepreneurs to attract financing to capital on concessional terms. The Memorandum of Cooperation was signed in the course of the presentation of the new program by Eldar Tenizbayev, Deputy Chairman of the Board of Directors of SB Sberbank JSC, and by Zhandar Bberikuly, Chairman of the Board of Directors of "Baiterek Venture Fund" JSC. The Memorandum provides for the development of a strategic partnership within the framework of the Program of Preferential Financing of domestic entrepreneurs, which will be implemented in two directions such as provision of support to corporate business and SME development. In the course of signing of the agreement, the parties agreed on the joint implementation of investment projects within the priority sectors of the economy in the segment of small and medium business, granting loans to promising industrial enterprises, the development of information technology and innovation infrastructure. Special attention will be paid to the support of exporting enterprises and socially significant projects in the country. “The signing of a Memorandum with "Baiterek Venture Fund" JSC is an important practical step in implementing the instructions of the President of the Republic of Kazakhstan to support the country's business community. We are confident that this Program, designed to simplify business access to investments, will be able to solve a number of problems faced by domestic entrepreneurs due to limited access to credit instruments”, Eldar Tenizbaev, Deputy Chairman of the Board of Sberbank SB, noted after the meeting. unquote [2019-05-16]