AKIPRESS.COM - Development Bank of Kazakhstan allocates 50 billion tenge for long-term lending to projects of processing industry through commercial banks, financial institute says.

According to the scheme of financing, “Baiterek” holding provides loan totaling 50 billion tenge to the Bank for long-term lending to projects of processing industry through commercial banks.

Thus, the credit will be subject to 23 manufacturing sector, including food processing, oil refining, clothing, paper products.

Thirteen banks participated in the program. The JSC "Kazakhstan Development Bank" has signed loan agreements with the banks.

In this regard, the government approved the loan conditions for final borrowers. Thus, the nominal interest rate for lending will be no more than 6% per year, loan term will take up to 10 years, Loan currency - tenge, the grace period for payment - 24 months.