Kazyna Capital Management and Sberbank Kazakhstan financed the first project under the preferential program

The first project, financed under the new program of concessional financing in the capital of Kazyna Capital Management and Sberbank Kazakhstan, was a health resort in Boraldai, Almaty region in the amount of 200 million tenge. On May 14, 2019, Kazyna Capital Management and Sberbank of Kazakhstan signed an agreement on mutual cooperation, which provides for the development of a strategic partnership within the framework of the joint Program of concessional equity financing of small and medium-sized businesses. The first project that received a guarantee from Sberbank Kazakhstan under the signed agreement was Burundayskie Mineralnye Vody LLP located in the Boraldai village in the Almaty region and whose main activity is to provide an extensive list of health services for the population. The purpose of financing Burundayskie Mineralnye Vody LLP is to expand and develop the complex. Already today, the wellness complex attracts the attention of guests from far and near abroad thanks to its unique concept of wellness rest and the possibility of treatment in thermal baths throughout the year. Speaking about the implementation of the Program of concessional equity financing, Deputy Chairman of the Board of Kazyna Capital Management JSC Asset Sagimbekov expressed confidence that the Program would become a good opportunity for businessmen to develop their business: “We have developed this program to simplify business access to investments and expand the scope of using the tool direct capital financing. There have never been programs with such conditions. We have offered business an affordable instrument alternative to bank lending. Today we see how relevant it is and how relevant it is. " Commenting on the first result of the bank's work within the framework of the joint program of concessional equity financing of small and medium-sized businesses, First Deputy Chairman of the Board of SB Sberbank JSC Eldar Tenizbaev noted that “The main goal of partnership with Kazyna Capital Management JSC is socio-economic development regions in the long term. Sberbank is interested in strengthening the position of private entrepreneurship using the wide possibilities of state support programs. And we, for our part, are confident that the 30 billion tenge allocated by the Fund within the framework of the Program aimed at the development and modernization of business projects will become the key to sustainable and balanced growth of domestic entrepreneurship. The Program provides for attractive financing conditions: interest rate up to 8% per annum, investment amount up to 5 billion tenge for up to 10 years. The program provides funding for a wide range of industries, including manufacturing, infrastructure projects and services. The Program will be implemented in two directions: support for corporate business and development of SMEs. “Thanks to preferential financing from Kazyna Capital Management and Sberbank, our company has an excellent opportunity to implement the planned projects with maximum profit. We explored all the possibilities, and what this Funding Program proposed suited us. The funds saved due to this support can be used to implement additional projects of our complex. And cooperation with Sberbank made it possible to quickly bring my plan to life, "- said, in turn, the commercial director of Burundayskie Mineralnye Vody LLP Askhat Koksalov.