Over 60 projects in Kazakhstan’s manufacturing sphere get state-financed
Development Bank of Kazakhstan JSC began financing 61 projects worth 55.8 billion tenge (279.21 tenge = $ 1) in the manufacturing sector.
The funds are allocated as part of the state support at the expense of the funds of the first and second tranches of the National Fund (total - 100 billion tenge), according to the Bank.
The matter rests in large business lending. The financing limit per borrower reaches from 200 million to five billion tenge.
In particular, such projects as the construction of a granulation workshop and the purchase of equipment for the polypropylene powder production in the Pavlodar region, the modernization and expansion of the lubricant production project in South Kazakhstan region, the reconstruction of an extraction phosphoric acid production workshop in the Zhambyl region have been financed.
Moreover, the construction and purchase of equipment for the production of bed linen and terry products in the South-Kazakhstan region; the expansion of production of soft drinks in Almaty region were financed through the state funds via the Development Bank of Kazakhstan.
Additionally, among the financed projects are modernization of the plant for salt production in the Kyzylorda province; expanding the output of glass products in South Kazakhstan province; construction of a plant for producing cast iron in the Almaty region, construction of the refining plant for producing oil in the South Kazakhstan province, purchasing furnace for cast iron and steel production in the city of Almaty and purchasing equipment for processing gold ore in Akmola province; obtaining equipment for producing construction materials in Almaty and Aktobe provinces, purchasing equipment for producing pesticides in the Akmola province and obtaining equipment for producing polypropylene bags in the Almaty province.
On the first tranche (50 billion tenge) from the National Fund, 27 projects in the sphere of processing industry have been approved as of Oct.23 by the commercial banks which have previously signed an agreement with Kazakhstan’s Development Bank.
On the second trance of funds (50 billion tenge), the second-tier banks have approved 44 projects valued at 41.526 billion tenge. Moreover, financing of 37 projects valued at 32.712 billion tenge has started.
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