Preferential microcredit program for youth will be launched in Kazakhstan from January 2023. Entrepreneurs at the age from 21 to 35 are eligible to submit an application to develop their business. According to the Kazakh Ministry of Labor and Social Protection of the Population, farmers, as well as producers of goods and services, can apply for preferential financing. Those entrepreneurs who receive approval can get microcredits on preferential terms with a nominal interest rate of not more than 2.5 percent per annum, the maximum loan amount of up to five million tenge, and the loan term of up to five years. Over 28 billion tenge is provided from the state budget for 2023 for the implementation of the project. As a result, over 5,500 young Kazakh entrepreneurs will be able to receive a preferential loan.
