Affordable financing of the manufacturing sector approved in the Mazhilis

In May of this year, the Head of State proposed to create an Industrial Development Fund at the expense of funds collected under the extended obligations of manufacturers. In pursuance of this instruction, the Industrial Development Fund was established in September 2020 on the basis of the current financial operator of state industrial development programs and the Nurly Zhol program - DBK Leasing JSC. The fund will expand government support measures for domestic manufacturing enterprises and will provide affordable financing for domestic enterprises at below market rates. All these measures are a logical continuation of the step-by-step implementation of the industrialization program, which was especially emphasized in the Address to the people of Kazakhstan dated September 1, 2020, where the Head of State noted that the most important task facing Kazakhstan is the full disclosure of its industrial potential. The creation of the Industry Fund is a key point in the implementation of the Roadmap for the Development of Mechanical Engineering for 2019 - 2024, which was developed and adopted with the direct participation of the Union of Mechanical Engineers of Kazakhstan. According to the deputy of the Mazhilis of the Parliament of the Republic of Kazakhstan, Chairman of the Board of the Union of Machine Builders of Kazakhstan Meiram Pshembaev, the initiative of machine builders to create and finance the fund will open access to long and cheap money, including for the development of capital-intensive industries. The other day, the Mazhilis of the Parliament of Kazakhstan approved in the second reading the draft of the new Environmental Code, which included amendments and additions in terms of ensuring affordable financing of processing enterprises at the expense of funds collected under the extended obligations of producers. The operator of financing will be the Industrial Development Fund. The key priority of the fund will be the implementation of strategic investment projects aimed at the development of a modern high-performance, competitive, export-oriented industry. https://tengrinews.kz/money/dostupnoe-finansirovanie-obgorabatseivayus 420767 /