OREANDA-NEWS. August 27, 2015. Subsidiary Bank Sberbank of Russia JSC (Almaty), whose bonds are officially listed on Kazakhstan Stock Exchange (KASE), has by an official letter informed KASE of the following:

Lending to businesses is being implemented within the framework of state programs for financing small and medium-sized businesses in the cities of Astana and Almaty. SB Sberbank JSC signed an agreement on participation in these programs with Damu. Under the terms of the agreements KZT750 mln will be allocated for the financing of Astana SMEs and KZT900 mln to finance Almaty entrepreneurs.

Entrepreneurs of Astana will receive a soft loan at a rate not exceeding 7.6% per annum. Maximum loan amount – KZT200 mln up to 3 years for working capital and up to 7 years for the purchase and modernization of fixed assets.

Entrepreneurs of Almaty will get a soft loan at 6.75%. The maximum loan amount is KZT180 mln. The maturity depends on the purpose: up to 3 years for working capital, up to 7 years for the purchase and modernization of fixed assets. "Sberbank has always been actively involved in government programs to support businesses. We are confident that these programs fil give entrepreneurs of Almaty and Astana an additional opportunity to realize their full economic potential and develop new business activities" – according to Alexander Kamalov, the Chairman of the Management Board of SB Sberbank JSC.