OREANDA-NEWS. On 31 July 2008 was announced, that fund of Steady Development Kazyna along with the banks of the second level selected the projects in the sphere of small and medium business to be financed for the total sum of 115.5 billion KZT. The Minister of Finance of Kazakhstan, Bolat Zhamishev, informed today at the government session in Astana, the agency reports.

"The fund along with the banks of the second level has already selected the projects for the sum of 115.5 billion KZT. The projects will be realized at the expense of the resources directed to Fund Kazyna for its capitalization," B. Zhamishev informed.

B. Zhamishev reminded that 28 billion KZT will be allocated for realization of the projects for support of small and medium business by local agencies by the decision of the government from a government reserve."

The Minister of Finance explained that "Kazyna Fund and the local agencies have the following arrangement: money is allocated as the projects are selected and are financed at once." "Such projects have been selected for 3.8 billion KZT and along with seven local agencies and Kazyna Fund have been already financed the projects for the sum of 3.4 billion KZT," he noted.