Subsidiary Organization VTB Bank (Kazakhstan) continues SME funding under "Astana Business-2" program

12.02.20 14:50
/KASE, February 12, 2020/ – Subsidiary Organization VTB Bank (Kazakhstan) JSC (Almaty), whose bonds are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following press release dated February 12, 2020: quote The Bank signed another loan agreement with the DAMU Fund and the capital Akimat on re-participation in the Program of regional financing of small and medium-sized businesses in Nur-Sultan city – “Astana Business-2” for the amount of KZT 300 million, 50% of which was allocated by the city Akimat and another 50% – by the Fund. Under this program, VTB Bank (Kazakhstan) will provide soft loans to beginners and operating businessmen of the capital at a nominal interest rate of up to 8.5% per annum. - "VTB Bank (Kazakhstan) in cooperation with Damu Entrepreneurship Development Fund, has already implemented many projects that provide serious support to the SME sector”, - says Igor Li, Member of the Management Board of VTB Bank (Kazakhstan). – “The Bank has already participated in the Astana Business program in 2017 and the Astana Business-2 program in 2019, issuing soft loans to the capital business for the total amount of half a billion tenge. Having successfully mastered past tranches, we appreciated the high demand of the capital's business for such financing and decided to take part in the project again". unquote [2020-02-12]