Business • 07 June, 2018

Ministry of Labor and Social Protection of Population explains how to get a microloan

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Director of the Employment and Labor Market Development Department of the MLSPP RK, Zhenisbek Dulatov spoke about this June 7 in the press center of the Government at the briefing on the expansion of microcredit under the President’s Five Social Initiatives, reports

Dulatov noted that this year over 600,000 new jobs will appear throughout the country. The most active in this regard are the cities of Astana and Almaty, southern regions, as well as the East Kazakhstan, Mangistau regions.

Disclosing the essence of the fourth social initiative of the President aimed at expanding microcredit in rural areas and cities, the speaker stressed that 42 billion tenge will be provided in 2018 for the expansion of microcredit. On behalf of the Head of State, the financing of microcredit was further increased by 20 billion tenge.

According to Dulatov, when issuing microcredits, the state guarantees up to 85% of the loan amount. For example, if a novice entrepreneur takes a loan for the amount of 1 million tenge, then the state gives the guarantee for 850 thousand tenge, and the borrower himself provides a security for the remaining 150 thousand tenge.

Answering a question from journalists about how to get microcredit today and whether there are limits, Dulatov noted that there used to be a lot of paper red tape.

"Now they are all eliminated. A starting entrepreneur should apply to the branch of the Atameken NCE in the place of residence. Further, the Chamber of Entrepreneurs organizes training under the Bastau Business program. In the course of training, the future entrepreneur prepares a package of documents for obtaining microcredit, then passes the tests, receives the Certificate upon completion of training. After that, he applies with the already prepared package of documents to the financial institution, which within two weeks issues documents for a loan," the MLSPP representative explained.

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