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ORDER OF THE GOVERNMENT OF THE REPUBLIC OF KAZAKHSTAN

of December 11, 2018 No. 820

About some questions of ensuring long-term tengovy liquidity for the solution of task of available crediting

(as amended on 19-07-2022)

The government of the Republic of Kazakhstan DECIDES:

1. Approve enclosed:

1) mechanism of crediting and financial leasing of priority projects;

2) the Road map on ensuring long-term tengovy liquidity (further - the Road map).

2. To provide to state bodies and the organizations (in coordination) timely accomplishment of the actions provided by the Road map.

3. To the ministry of national economy of the Republic of Kazakhstan on semi-annual basis, to the 30th, following reporting to provide in Prime minister's department of the Republic of Kazakhstan summary information on the course of accomplishment of actions of the Road map, except for item 4 of the Road map.

4. This resolution becomes effective from the date of its signing.

Prime Minister of the Republic of Kazakhstan

B. Sagintayev

Approved by the Order of the Government of the Republic of Kazakhstan of December 11, 2018, No. 820

Mechanism of crediting and financial leasing of priority projects

1. The total amount of financing by National Bank of the Republic of Kazakhstan of banks of the second level (further – BVU) and JSC Agrarian Credit Corporation (further – AKK) in 2018 - 2023 for support of the subjects of private entrepreneurship (further – SChP) performing activities in processing industry and agro-industrial complex will constitute up to 1 trillion tenge.

2. Strategic tasks

Strategic tasks:

1) expansion of production in processing industry and agro-industrial complex;

2) saturation of the domestic market by goods and services of domestic manufacturers.

3. Target indicators

Target indicators:

1) decrease in share of import on goods of economy of simple things for 20% by 2024 of the level of 2018;

2) growth of production of economy of simple things by 20% by 2024 of the level of 2018.

4. Conditions of provision of means of BVU and AKK:

The National Bank of the Republic of Kazakhstan at the expense of own means and means which are in its management will perform acquisition of bonds of BVU and AKK on the amount to 1 trillion tenge from repayment period to 10 years on the final return rate tied to the size of the base rate of remuneration established by National Bank of the Republic of Kazakhstan and increased no more than by percent point 1,5.

BVU and AKK can extinguish ahead of schedule the bonds issued by them on the conditions determined by the prospectus of release (bond issue condition) and approved with National Bank of the Republic of Kazakhstan.

The maximum limit of bonds acquisition on each BVU shall not exceed 182 billion tenges, but no more 1, the 5-fold size of equity on one BVU, and the limit of bonds acquisition on AKK shall not exceed 170 billion tenges. In case of non-use of limit partially or completely BVU, the unused limit can be redistributed among the interested BVU.

The maximum limit of acquisition of bonds of AKK shall not exceed 170 billion tenges from which no more than 140 billion tenges can be directed to production and conversion in agro-industrial complex. At the same time acquisition of bonds of AKK on the amount of 70 billion tenges directed to production and conversion in agro-industrial complex requires availability of the state guarantee.

The raised and own funds of BVU, leasing companies (further - LK) and AKK shall be directed to financing of priority projects in the following directions:

1) conversion in agro-industrial complex to 300 billion tenges;

2) production in agro-industrial complex to 300 billion tenges;

3) processing industry and services to 400 billion tenges.

Operator on financing of priority projects on production and conversion in agro-industrial complex along with BVU, LK is AKK. Along with direct lending of AKK has the right to accumulate credit partnerships for the subsequent crediting of agricultural producers.

No more than 30 billion tenges will be directed to crediting of the projects directed to carrying out spring and field and/or harvest works on production in agro-industrial complex.

At the same time on crediting and financial leasing of the projects realized by subjects of small and medium business (further - MSB), will direct at least 200 billion tenges. For this purpose each BVU, LK and AKK will provide financing and financial leasing of the MSB projects in the amount of at least 20% of total amount of the issued credits and financial leasing on the conditions established by this mechanism of crediting and financial leasing of priority projects (further - the mechanism).

BVU and AKK can grant loans under the SChP projects at the expense of own means, and also issue bonds for providing or recovery of funding for loans of SChP.

LX loans are granted only at the expense of own means (market funding).

In case of receipt of advance funding, the period of application of funds, the bonds received from placement, shall not exceed 12 months from the date of their revenues to the account of BVU and AKK.

Purpose of the provided means - crediting of SChP performing activities in processing industry and agro-industrial complex for the purposes of investment and replenishment of current assets. Replenishment of current assets on renewable basis is allowed.

At the same time can direct no more than 50% of the issued borrowing facilities and financial leasing within one project of the borrower to the purposes of replenishment of current assets of BVU, LK and AKK. This restriction does not extend to financing and financial leasing of projects in the field of production and conversion in agro-industrial complex which are performed at the expense of own means of BVU, LK and AKK, and also projects directed to carrying out spring and field and/or harvest works on production in agro-industrial complex regardless of credit financing source. At the same time the projects directed to carrying out spring and field and/or harvest works on production in agro-industrial complex are financed for the term of no more than 1 year.

5. Requirements to BVU, LK and AKK performing issuance of credits and financial leasing under the terms of this mechanism:

the minimum size of equity of BVU and AKK shall constitute at least 50 billion tenges.

The requirement for the size of equity does not extend to BVU performing issuance of credits at the expense of own means.

BVU, LK and AKK do not charge any fees, charges and/or other payments connected with the credit or financial leasing, except for:

1) the terms for crediting connected with change or the financial leasing initiated by the borrower;

2) levied owing to violation(s) by borrowers - SChP of obligations according to credit agreements or the agreement of financial leasing;

3) connected with carrying out independent assessment of subject of pledge, registration of the agreement of pledge and removal of encumbrance;

4) payments on settlement cash servicing.

Within the mechanism purchase of shares is not allowed.

6. As the operator on this mechanism the joint-stock company "Business Development Fund "Lady" and its territorial subdivisions (further - the financial agency), SChP enabling implementation of measures for financial support on this mechanism will act. Services of the financial agency are paid by authorized body for entrepreneurship at the expense of the funds of the republican budget allocated according to the Rules of subsidizing of part of rate of remuneration within the national project on development of entrepreneurship for 2021 - 2025 approved by the order of the Government of the Republic of Kazakhstan of December 31, 2019 No. 1060 (further - Rules of subsidizing of part of rate of remuneration within the national project on development of entrepreneurship for 2021 - 2025).

7. Financing terms of SChP:

target group of SChP are the effective entrepreneurs / subjects of industrial and innovative activities determined in Rules of subsidizing of part of rate of remuneration within the national project on development of entrepreneurship for 2021 - 2025 and realizing projects in priority industries of economy according to the inventory for crediting and financial leasing on priority projects (further - the list), according to appendix to this mechanism. At the same time for confirmation of purpose of the project release at least one type of goods from the list tied to specific type of the general qualifier of all types of economic activity suffices (further - OKED). For service industry reference to types of OKED will be criterion of compliance.

In case of crediting of projects for the amount over 10 billion tenges, the positive conclusion of the relevant industry central authorized body is necessary;

nominal rate of remuneration for SChP of no more base rate of remuneration established by National Bank of the Republic of Kazakhstan and increased by 4,5 (four and a half) percent points;

crediting currency for SChP - tenge;

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