Kazakhstan rolls out bold financial initiative to spur business growth

The Ministry of National Economy of Kazakhstan, through the "Damu" Fund, has introduced two new financial support tools designed to enhance access to preferential financing for businesses, regardless of size or collateral availability.The first initiative targets large projects starting at 7 billion tenge ($13.3 million) and focuses on sectors such as industry, energy, infrastructure, and exports. By offering government-backed loan guarantees, this program mitigates risks for banks and simplifies credit access for large-scale ventures. The second initiative is aimed at small and medium-sized enterprises (SMEs), supporting projects up to 7 billion tenge ($13.3 million). This also enables businesses to access financing without requiring collateral. The program has already forged partnerships with five banks, with two more expected soon.