Over US$2.3 billion in loans granted under ‘Economy of Simple Things’ program

Loans for a total amount of one trillion tenge (US$2.3 billion) were granted and about 3,500 projects were launched in Kazakhstan under the Economy of Simple Things program. As a result, 70,000 jobs were created, and goods and services for 3.5 trillion tenge (US$8.2 billion) were produced. Projects that have received financial support include the processing industry, health, social services, and education. In his state-of-the-nation address, President of Kazakhstan Kassym-Jomart Tokayev instructed to extend the Economy of Simple Things program until 2022. In this regard, the country’s primary regulator will continue to purchase bonds of second-tier banks and the Agrarian Credit Corporation.

“The funds provided by the National Bank of Kazakhstan will allow delivering concessional lending to entrepreneurs focused on import substitution and the creation of new industries in 2022,” said Akhmetali Yerzhan, spokesperson for the National Bank of Kazakhstan.

Translation by Assem Zhanmukhanova

Editing by Galiya Khassenkhanova