As Madina Abylkassymova noted, the microcredit is being developed today within the framework of the Program for the Development of Productive Employment and Mass Entrepreneurship for 2017-2021 and is the most effective mechanism for the development of mass entrepreneurship.
In 2018, the microcredit program in the approved budget provides 42 billion tenge, including 31 billion tenge for rural areas and 11 billion tenge for cities and monotowns.
"On the instruction of the Head of State, the financing will be increased by 20 billion tenge and will be 62 billion tenge this year," M. Abylkassymova said.
In order to ensure the quality effect of microcredit, as well as the timely planning of raising the funds to the final borrower, the Minister of Labor and Social Protection of the Population proposed to steer about 14 billion tenge from the additionally allocated 20 billion tenge for lending in villages and small towns. Of this amount, it is proposed to spend 10 billion tenge on the implementation of anchor cooperation projects around large processing agricultural enterprises. The remaining 6 billion tenge will be sent to lending in cities and single-industry towns.
M. Abylkassymova noted that for the protection of business projects and the receipt of microcredits, unemployed and self-employed citizens must first be trained in the Bastau-Business project. Taking into account additional funds, it is proposed to provide not less than 1.2 billion tenge at the expence of general transfers for training in entrepreneurship.
"For the speedy provision of the borrower with loan funds, it is necessary to ensure the signing of trilateral credit agreements on previously allocated funds before the end of March and immediately start issuing microcredits. On additional funds allocated, the tripartite credit agreements should be signed until the end of April this year," M. Abylkassymova summed up.
The minister also proposed, for greater coverage of the population by microcredit, to revise the limits for issuing loans differentially for the city and the village and to work out mechanisms for bringing microcredits to the consumer.
"Preferential microcredits are granted for up to 5 years, and for livestock projects and the creation of agricultural cooperatives — up to 7 years, the annual effective interest rate is not more than 6% per annum. In the event of insufficiency of collateral, the participants of the Program are entitled to receive a guarantee as security for the performance of the loan obligations. In general, to implement the proposed mechanisms, changes will be made to the Program, as well as to the rules on microcredit in cities and rural areas," M. Abylkassymova concluded.
It should be reminded that President Nursultan Nazarbayev, speaking at the joint session of the Chambers of the Parliament, announced five social initiatives aimed at social modernization. Initiatives affect housing, education, business and gasification.