By issuing bonds, DBK borrowed KZT 20 billion from Kazakhstan Sustainability Fund JSC (hereinafter referred to as KSF, a subsidiary of the National Bank), in accordance with resolution No.79 of the Management Board of the National Bank dated May 31, 2019.
To date, commercial banks have received funds in the following amounts:
SB of Sberbank JSC - KZT 8 bln.;
SO of VTB Bank JSC (Kazakhstan) - KZT 5 billion;
Fortebank JSC - KZT 5 bln.;
Halyk Bank of Kazakhstan JSC - KZT 2 bln.
SB of Sberbank JSC - KZT 8 bln.;
SO of VTB Bank JSC (Kazakhstan) - KZT 5 billion;
Fortebank JSC - KZT 5 bln.;
Halyk Bank of Kazakhstan JSC - KZT 2 bln.
Thus, since 2015, DBK has allocated six tranches of funds totaling KZT 82 billion to finance the program of preferential car loans. In particular, two tranches from the National Fund in the total amount of KZT 26 billion in 2015-2016, two tranches from the National budget in the total amount of KZT 16 billion in 2018-2019. In 2019-2020, DBK borrowed KZT 40 billion from Kazakhstan Sustainability Fund JSC by issuing bonds.
Lending under the Program is revolving: payments from the repayment of existing loans are directed to the issuance of new loans. Thanks to such re-development of funds, Kazakhstan people purchased on favorable terms 20,629 cars of domestic assembly for a total of KZT 98,219 million.
However, we remind you that DBK as the operator of the Program of preferential car loan improved program implementation by eliminating procedures for the approval of credit applications in DBK under the Program. The measure was introduced to reduce the time for processing applications. However, this does not mean that the DBK does not monitor the intended use of funds by participating banks.
The criteria and conditions for granting preferential auto loans to final borrowers remain the same:
- nominal interest rate - no more than 4% per annum,
- loan term - no more than 7 years;
- loan currency - KZT;
- cost of one unit of passenger vehicles - no more than KZT 15 million.
- nominal interest rate - no more than 4% per annum,
- loan term - no more than 7 years;
- loan currency - KZT;
- cost of one unit of passenger vehicles - no more than KZT 15 million.
Buyers are presented 42 models of cars produced by SaryArkaAvtoProm LLP and Asia Auto JSC and such brands as JAC, Chevrolet, Peugeot, Ravon, UAZ, Hyundai. Kia, Skoda, LADA.
Development Bank of Kazakhstan JSC (DBK) is a national development Institute for the modernization and development of non-resource and infrastructure sectors of the economy of Kazakhstan, established in 2001. Main activities: development of production infrastructure and manufacturing industry, promotion and attraction of foreign and domestic investment in the country's economy. DBK is one of the largest investment operators of State program of Accelerated Industrial and Innovative Development of the Republic of Kazakhstan (SPIID). DBK is a part of Baiterek National Managing Holding JSC.
Public relations service of DBK: 8 (7172) 79 26 08 (www.kdb.kz, facebook.com/kdb.kz, Twitter@KDBkz).
