This year, around
5,800 microcredits on favorable terms are planned to be issued to young
citizens of Kazakhstan. It is noteworthy that the Agrarian Credit Corporation
has already approved about 3,200 applications out of a total of just over 5,100
received. Loans have been issued for the implementation of over 2,300 projects,
according to the Kazakh Ministry of Labor and Social Protection of the
Population. It should be noted that the loan interest rate for business
initiatives of young Kazakh citizens between the ages of 21 and 35 is set at
2.5 percent per annum. The maximum participation period starts from five years.
Loans for up to seven years are granted for the implementation of projects in
the livestock sector. According to the relevant ministry, this year, the
highest number of applications were received from entrepreneurs in the
Turkistan, Zhambyl, Almaty, West Kazakhstan, Kyzylorda and Zhetisu regions. The
loans were mainly granted for projects in the fields of animal husbandry,
services, trade, crop production, and light industry.
