Asian Development Bank to allocate USD 500 mln for Kazakh small and medium business development
ALMATY. 13.04.2010. KAZINFORM /Daniyar Sikhimbayev/ The Asian Development Bank (ADB) works on the project on development of small and medium business in Kazakhstan amounted to USD 500 mln. The representatives of the Bank have made it public in Almaty today. According to senior specialist on structural financing of the ADB representation in Kazakhstan Aliya Mukhamedyarova, the Bank responded quickly to the request of the Kazakh Government on allocation of finances for support of small and medium business entities and sent two missions to the country to study the issue. The ADB representative noted that the credit resources will be allocated to "Damu" Entrepreneurship Development Fund and distributed among small and medium business entities through the second tier banks. "The cost is negotiated now. We try to make it both market-based and acceptable for businessmen", A.Mukhamedyarova said.