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