OREANDA-NEWS. May 15, 2009. Alliance Bank (Almaty), a company listed on the Kazakhstan Stock Exchange (KASE), provided KASE with a press releases, reported the press-centre of KASE:

Alliance Bank informed on early disbursement of funds within the program for support and development of small and middle businesses, implemented by the state Fund for business development Damu.

According to the schedule, Alliance Bank before May 15, 2009 had to disburse all funds received from fund Damu (KZT18 bn.). In fact the bank allotted for crediting of small and middle businesses KZT18.02 bn. on 273 orders. Of this amount KZT9.89 bn. on 216 orders was allotted to refinance earlier received loans.

In terms of industries 79 % of disbursed funds were allotted to finance trade and service enterprises. The rest of funds were distributed between companies operating in construction (7 %), processing (11.1 %), transport and telecommunications (0.8 %) and agriculture (1.9 %).

In terms of regions the largest volume was received by companies operating in Almaty (40 %), Astana (24 %), Pavlodar region (7.8 %) South Kazakhstan (5.2 %), East Kazakhstan (4.5 %) and Northern Kazakhstan (4.1 %).

Deputy Chairman of the Board of Alliance Bank Zholpan Nurumbetova commented: "Participating in the program we have been striving to help domestic businesses, which currently face lots of problems when seeking for financing. At first stage we noticed a growing interest on the side of businesses; it was much concerned with a possibility to refinance loans received earlier. Cosidering orders from businesses, we were trying to keep balance between demand for credits and program requirements. Allthough not all willing businesses received a credit, however, I think, Alliance Bank contributed significantly into development of small and middle businesses".