/KASE, 04.07.24/ – Development Bank of Kazakhstan JSC (Astana), with its
bonds officially listed on Kazakhstan Stock Exchange (KASE), provided KASE
with a press release dated July 04, 2024, which reads as follows
start of quote
Development Bank of Kazakhstan JSC (a subsidiary of Baiterek holding,
hereinafter referred to as the Bank, DBK) presented new mechanisms for
providing guarantees for medium and large businesses in second-tier banks
(STBs).
The mechanisms are approved by the Rules for partial guarantees for loans to
private businesses (Rules), developed by DBK jointly with the Ministry of
National Economy and approved by the Decree of the Government of the Republic
of Kazakhstan dated July 2, 2024, in pursuance of the National Action Plan for
implementation of the Message of President Kassym-Jomart Tokayev to the
people of Kazakhstan “Economic Course of Fair Kazakhstan" dated September
1, 2023.
Within the Rules, two new mechanisms are introduced into the DBK guarantee
instruments:
- provision of a guarantee from DBK to business entities with subsidized
commission for risks;
- provision of DBK guarantees to business entities with the provision of
preferential financing to STBs.
end of quote
Full text of the press release is available at
https://kase.kz/files/emitters/BRKZ/brkz_relizs_040724_1.pdf
[2024-07-04]