Jýsan Bank Is Ready to Disburse Loans at 8% to Businesses Suffered from the State of Emergency

April 8, 2020, Almaty. – Jýsan Bank is ready to support Kazakhstan's small and medium-sized businesses, which have suffered from the state of emergency declared in the country due to the coronavirus pandemic.

Under the special Small and Medium-Sized Business (Including Private Entrepreneurs) Support Program, preferential loans are to be allocated at the rate of up to 8% p.a., to replenish their working capitals.

According to conditions of the Program, the maximum loan period shall be 12 months. The maximum loan amount is to be 50 million Tenge for private entrepreneurs and 3 billion Tenge for legal entities, without any restrictions with regards to their core activities.

"We are considering the funding of our existing and new clients. These may include companies facing a decrease in their proceeds, delayed payments by their buyers, as well as job cuts. In these difficult circumstances, we are ready to help our clients and back up the national businesses," Miras Shaykhislamov, Deputy Chairman of the Management Board of Jýsan Bank, said.

You can find more details of the terms and conditions of privileged lending and submit a request now via the Bank's website using the following link.

Earlier, to support its clients, Jýsan Bank gave them an opportunity to get an up to 90 days grace period on the loans.

The SMEs Privileged Lending Program was prepared by the National Bank and Agency for Regulation and Development of the Financial Market on the instructions of Kazakhstani President Kassym-Jomart Tokayev.

To implement the Program, 600 billion Tenge will be allocated through the placement of conditional deposits with 13 second-tier banks, which are participating in the Program, have undergone the third-party Asset Quality Review (AQR), and have SME loans in their portfolios. The Kazakhstan Sustainability Fund acts as the Program Operator.

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