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  • 200 bln tenge from ENPF invests in financial instruments of STB
27 March, 2017 12:53

200 bln tenge from ENPF invests in financial instruments of STB

200 billion tenge from the resources of Unified Accumulative Pension Fund are invested in financial instruments of the second-tier banks. This was reported by Minister of National Economy of Kazakhstan Timur Suleimenov during the government hour in the Majilis of the Parliament of Kazakhstan.
200 bln tenge from ENPF invests in financial instruments of STB | Strategy2050.kz

"To support the manufacturing industry, 455 billion tenge were allocated, of which 300 billion tenge of the National Fund's means in the framework of joint action plans of the Government of Kazakhstan and the National Bank, and 155 billion tenge within anti-crisis measures to stimulate the economy for 2016-2017", - T. Suleimenov said.

He also said that or financing of SMEs’ need in working capital and refinance loans, it was decided to invest the funds of UAPF in the amount of 200 billion tenge in financial instruments of the second-tier banks.

"To maintain additional liquidity in the credit market from international financial organizations 158 billion tenge are attracted. In the current year, it is planned to raise an additional 157 billion tenge for further crediting of SME projects. At the expense of these funds, 12 933 business projects totaling 854 billion tenge were financed", -T. Suleimenov informed.

As the Minister noted, entrepreneurs are provided with the means, allocated within anti-crisis measures to stimulate the economy for 2016-2017, and the resources of UAPF, to reduce their cost in the framework of "Business Road Map-2020" program.

"Along with providing real support for SMEs on a systematic basis, work is underway to create favorable conditions for doing business", - T. Suleimenov said.

Recall that Minister of National Economy Timur Suleimenov during the government hour in the Majilis of the Parliament of Kazakhstan reported that in 2017, 52 billion tenge were allocated from the republican budget for the implementation of "BRM-2020" program. To support SMEs, there are 18 business servicing centers and 188 business support centers in the country, and 14 mobile BSCs ply in the countryside for the purpose of consulting.

Kairat Zhandybayev

Photo by Bauyrzhan Zhuasbayev

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