Kazakh PM reports on progress of Government’s anti-recession program

Kazakh PM reports on progress of Government's anti-recession programASTANA. June 22. KAZINFORM /Muratbek Makulbekov/    Today at the enlarged sitting of the Nur Otan party in Majilis Prime Minister Karim Massimov accounted on the progress of implementation of the anti-recessionary program of the Government.

“As per the order of the President USD 10 bln was allocated from the National Fund for the implementation of the Anti-Recessionary Program. KZT 607.5 bln was directed for the capitalization of Samruk Kazyna National Welfare Fund, the rest KZT 480 bln and KZT 120 bln was borrowed by Samruk Kazyna Fund and KazAgro Holding through loan securities”, – K. Massimov said.

Within stabilization of the financial sector four main banks have received KZT 476 bln, according to the PM. To address the issues on the real estate market Kazakhstanskaya Ipotechnaya Kompaniya (Kazakhstan Mortgage Company) has purchased the right of demand on mortgage borrowings to the amount of KZT 13 bln. Samruk-Kazyna Fund will complete construction of the residential estates of Astana and Almaty home owners.

Agreements on 2,5 thousand projects to the amount of KZT 122 bln have been concluded by June. KazAgro Holding allocated KZT 120 bln for the development of the agro-industrial complex whereas Samruk Kazyna Fund to allocate KZT 120 bln for the implementation of innovative, industrial and infrastructural projects. The state support amounted to more than USD 3.5 bln.

 “These projects cover energy, transport infrastructure, oil and gas as well as processing industry”, – K. Massimov said.