OREANDA-NEWS. March 04, 2010. Tsesnabank entered into an agreement with Business development fund Damu to disburse KZT300 m under the Program to support woman-run businesses. Thus, the bank became the third operator of the program and received almost a half of the funds, reported the press-centre of KASE.

The program pursues to support and stimulate financial activity of Kazakhstan women through low-rate crediting.

Business ladies can obtain credits up to KZT3 m worth to refill working capital and acquire and update fixed assets and refinance loans with the bank with an down to 14 % interest rate.

The program covers operating individual businesses and starting businesses, regardless of the operation area. The loans will be granted in the national currency to refill working capital for up to 36 month terms, to acquire new fixed assets - up to 60 months. It is planned to increase the funds used under the program up to KZT2 bn.

"Woman-run businesses develop gradually, however, need to be supported. As a rule, business ladies operate in trade and services, which is an essential part of our life. We are pleased to have become an operator of the state program and willing to support business ladies", - bank chairman Dauren Zhaksybek said.