Brief Note On Various Governmental Actions Regarding COVID-19 Situation

April 2020 – This brief note relates to various governmental actions to support businesses in Kazakhstan due to Covid-19 situation. Our note is intended to be a helpful guide – it is not comprehensive and does not constitute legal advice.

Concessional lending to SMEs

On 19 March 2020, the Programme of concessional lending to small and medium-sized entrepreneurship entities (the "Programme") was approved in accordance with Resolution No. 39 of the Management Board of the National Bank of the Republic of Kazakhstan (the “NBK”).

The NBK will provide up to 600 billion tenge (approximately $1.37 billion) to finance banks to support small and medium-sized entrepreneurship entities (the "SMEs"). According to the Programme, the conditions for granting loans and/or new financing within the framework of credit lines by banks to SMEs are as follows: