The Rules of preferential microcredit for young people have been approved

In order to implement the instructions of the Head of State, the Ministry of Labor and Social Protection of the Population of the Republic of Kazakhstan (hereinafter – the Ministry of Social Welfare) approved the rules of preferential microcredit for young people within the framework of the National Project for the Development of Entrepreneurship for 2021-2025, which came into force on January 1, 2023.

The rules provide for the provision of microcredits on a competitive basis for young people aged 21 to 35 who want to start an entrepreneurial activity or are engaged in entrepreneurship.

Loans will be issued through JSC "Agrarian Credit Corporation". The nominal interest rate is no more than 2.5% per annum. The maximum loan amount is up to 5 million tenge, with a mandatory condition of collateral.

The loan term is up to 5 years for any purpose, with the exception of animal husbandry. For this area of activity – up to 7 years.

There is also a grace period for repayment of the principal debt and remuneration, which is no more than 1/3 (one third) of the duration of the microcredit period.

Currently, the MTSZN is working on:

- conclusion of credit agreements with local executive bodies;

- conclusion of the contract of assignment of local executive bodies with JSC "Agrarian Credit Corporation";

- creation of regional commissions to review business projects.

The start of accepting applications for a micro-loan and the addresses of the offices where you need to apply will be announced additionally.