Baiterek Holding Outlines Support Measures for Entrepreneurs, Agricultural Projects

ASTANA – Baiterek national holding company has supported large business projects with 114.4 billion tenge ($257 million) and financed over 15,000 small and medium-sized businesses through the Damu Entrepreneurship Development Fund since the beginning of the year, said Kanat Sharlapayev, Baiterek’s Chairman of the Board, at a July 31 meeting with President Kassym-Jomart Tokayev, reported the Akorda press service.

Kassym-Jomart Tokayev and Kanat Sharlapayev. Photo credit: Akorda.

Sharlapayev outlined the company’s work in the first half of the year, including the progress in implementing initiatives to support entrepreneurship, the agro-industrial complex and provide the population with housing.

Since January, Otbasy Bank has helped 29,000 families with housing. The bank is implementing the rental subsidy program, a form of gratuitous state support for citizens, including individuals classified in the first and second groups of people with special needs, families raising children with limited abilities, orphans, and families with many children. Over 9,000 applications were approved in the first half of the year.

Sharlapayev informed that more than 271 billion tenge ($609.3 million) has been allocated through the Agrarian Credit Corporation since the start of the year to support nearly 9,000 farmers. This year, 3.5 million hectares of land have been sown, 15% of the country’s total area. Over 131 billion tenge ($294.5 million) was allocated to strengthen food security and reduce import dependence to lend investment projects in agriculture. Over 70% of the financing of the agricultural sector falls on the Agrarian Credit Corporation and KazAgroFinance.

Following the meeting, Tokayev outlined instructions to improve the business development conditions and the social housing policy.

In an interview with The Astana Times last year, Sharlapayev talked about measures Baiterek took to turn it into a more accessible and transparent institution for local businesses.

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