Most of the future economic growth in Kazakhstan is likely to be powered by small and medium businesses. Many of these companies are expanding, providing jobs and creating wealth, with help from ADB.
Title: ADB and Kazakhstan: Boosting Small Businesses
Description: Most of the future economic growth in Kazakhstan is likely to be powered by small and medium businesses. Many of these companies are expanding, providing jobs and creating wealth, with help from ADB.
VO: In a busy workshop in Almaty there’s a thriving business – servicing commercial machinery. For six years, the business has been growing - and that growth demanded more capital injection.
On the plains of Kostanay, Niyazbek Khamit, manages the family horse meat farm which they hope to expand.
Both businesses are part of the economic growth in Kazakhstan, fuelled by small and medium sized businesses and supported by the Asian Development Bank. ADB has allocated five hundred million dollars for loans through the Kazakhstan government development fund, with each business able to borrow up to two point five million dollars at the set market rate to modernize, purchase new equipment, and expand.
New tools and training – bought with the help of a nearly four hundred thousand dollar loan - have helped this service centre expand, increase business and increase profits.
SOT: Without this program we would not develop and stagnate. Only thanks to this program we've achieved such results today.
VO: New buildings and more horses are the result of a nearly two million dollar loan that the Khamit family took out.
SOT: We got very good support with getting a loan for our business. Every business can set up better now.
VO: Small and medium enterprises are developing rapidly in Kazakhstan, assisted by ADB’s five hundred million dollar loan funding.