In 2018, the financing of the microcredit program increased by 20 billion KZT
Minister of labor and social protection of the population Madina Abylkasymova, announced this at a Government meeting devoted to the implementation of Five Social Initiatives.
Microcredit for self-employed and unemployed citizens to ensure the growth of income of the population through the development of entrepreneurship is carried out on behalf of the Head of State in the framework of the Fourth Social Initiative.
Last year, the financing of the microcredit program was increased by 20 billion KZT (in cities – 6 billion KZT, in villages – 14 billion KZT). Taking into account the additional allocated funds, the total amount allocated for microcredit amounted to 62 billion KZT. Due to this, the microcredit coverage plan in comparison with 2017 was doubled and amounted to 14 thousand people.
Microcredits are granted for the purpose of opening a micro business, expanding an existing business anchor and developing anchor cooperatives. They are issued for a period of up to 5 yearsь and for projects in the field of animal husbandry and the creation of agricultural cooperatives – up to 7 years. The nominal rate of return on loans is not more than 6% per annum.
In 2018, the program was amended to provide for the differentiation of microcredit limits in rural and urban areas, increasing the size of microcredits in rural areas for the development of anchor cooperation from 5 to 8 thousand MCI, as well as simplified procedures for issuing microcredits.
In 2018, a total of 59.5 billion KZT or 96% of the plan for the year was disbursed under the microcredit program. 14 053 microcredits were issued, of which 12 760 or 116% of the annual plan are in rural areas. The average size of microcredits in rural areas amounted to 3,5 million KZT and in cities – 11 million KZT.
Among the issued microcredits to support Start-up projects accounted 9 772 micro-credits (70%), to develop a new direction of anchor cooperation 1,024 micro-credits (7%), to expand their own business 3 257 micro-credits (23%).
In the context of economic sectors, microcredits were issued for the development of farm production – 76% (10 699), crop production – 2.7% (376), poultry – 2.2% (307), transport and storage – 6% (843), accommodation and food services – 4% (562), manufacturing – 2% (282), wholesale and retail trade – 1% (141), provision of other services – 5.6% (787), construction-0.4% (56).
In addition, 12 613 jobs have been created by the recipients of microcredits.
In 2019, the amount of financing for the microcredit program is 62 billion KZT, of which at the expense of the national budget – 54 billion KZT, general transfers is about 8 billion KZT.
In the current year, at the expense of the allocated funds, the task has been set to cover 14 000 people with microcredit, including 12 000 people in rural areas and 2 000 people in urban areas.