ORDER OF THE GOVERNMENT OF THE REPUBLIC OF KAZAKHSTAN

of June 28, 2021 No. 441

About modification and amendments in the orders of the Government of the Republic of Kazakhstan of December 11, 2018 No. 820 "About some questions of ensuring long-term tengovy liquidity for the solution of task of available crediting" and of December 31, 2019 No. 1060 "About some measures of the state support of private entrepreneurship"

The government of the Republic of Kazakhstan DECIDES:

1. Bring the following changes and amendments in some decisions of the Government of the Republic of Kazakhstan:

1) in the order of the Government of the Republic of Kazakhstan of December 11, 2018 No. 820 "About some questions of ensuring long-term tengovy liquidity for the solution of task of available crediting":

in the mechanism of crediting and financial leasing of priority projects approved by the specified resolution:

the second Item 1 to state part in the following edition:

"Projects of Development Bank of Kazakhstan joint-stock company (further - BRK) and Fund of Development of the Industry joint-stock company (further - FRP) will be financed only at the expense of own means (market funding).";

state item 4 in the following edition:

"4. Conditions of provision of means of BVU and AKK:

The National Bank of the Republic of Kazakhstan at the expense of own means and means which are in its management will perform acquisition of bonds of BVU and AKK on the amount to 1 trillion tenge from repayment period to 10 years on final return rate to 11% per annum.

BVU and AKK can extinguish ahead of schedule the bonds issued by it on the conditions determined by the prospectus of release (bond issue condition) and approved with National Bank of the Republic of Kazakhstan.

The maximum limit of bonds acquisition on each BVU shall not exceed 104 billion tenges, the limit of bonds acquisition on AKK shall not exceed 170 billion tenges. In case of non-use of limit partially or completely BVU, unused limit can be redistributed among the interested BVU.

The maximum limit of acquisition of bonds of AKK shall not exceed 170 billion tenges from which no more than 140 billion tenges can be directed to production and conversion in agro-industrial complex. At the same time, acquisition of bonds of AKK on the amount of 70 billion tenges directed to production and conversion in agro-industrial complex requires availability of the state guarantee.

The raised and own funds of BVU, leasing companies (further - LX) and AKK shall be directed to financing of priority projects in the following directions:

1) conversion in agro-industrial complex to 300 billion tenges;

2) production in agro-industrial complex to 300 billion tenges;

3) processing industry and services to 400 billion tenges.

Operator on financing of priority projects on production and conversion in agro-industrial complex along with BVU, LX is AKK. Along with direct lending of AKK has the right to accumulate credit partnerships for the subsequent crediting of agricultural producers.

No more than 30 billion tenges will be directed to crediting of the projects directed to carrying out spring and field and/or harvest works on production in agro-industrial complex.

At the same time, on crediting and financial leasing of the projects realized by subjects of small and medium business (further - MSB), will direct at least 200 billion tenges. For this purpose each BVU, LX and AKK will provide financing and financial leasing of the MSB projects in the amount of at least 20% of total amount of the issued credits and financial leasing on the conditions established by this mechanism of crediting and financial leasing of priority projects (further - the mechanism).

BVU and AKK can grant loans under the SChP projects at the expense of own means, and also issue bonds for providing or recovery of funding for SChP loans.

BRK, FRP and LX loans are granted only at the expense of own means (market funding).

The limit of financing of projects for BRK will constitute no more than 200 billion tenges.

The limit of financing of projects for FRP is not set, at the same time the maximum amount of financing constitutes no more than 100 billion tenges.

BRK is performed crediting of the significant projects directed to decrease in importozavisimost and infrastructure development.

At the same time, crediting of the BRK projects is performed according to the recommendation of State commission concerning upgrade of economy.

Subsidizing of the FRP projects with financing term and the financing amount over 5 billion tenges is performed more than 5 years according to the recommendation of State commission concerning upgrade of economy.

In case of receipt of advance funding, the period of application of funds, the bonds received from placement, shall not exceed 12 months from the date of their revenues to the account of BVU and AKK.

Purpose of the provided means - crediting of SChP performing activities in processing industry and agro-industrial complex for the purposes of investment and replenishment of current assets. Replenishment of current assets on renewable basis is allowed.

At the same time, on the purposes of replenishment of current assets of BVU, LX and AKK can direct no more than 50% of the issued borrowing facilities and financial leasing within one project of the borrower. This restriction does not extend to financing and financial leasing of projects in the field of production and conversion in agro-industrial complex which are performed at the expense of own means of BVU, BRK, FRP, LX and AKK, and also projects directed to carrying out spring and field and/or harvest works on production in agro-industrial complex regardless of credit financing source. At the same time, the projects directed to carrying out spring and field and/or harvest works on production in agro-industrial complex are financed for the term of no more than 1 year.";

in Item 7:

to state the paragraph of the sixth in the following edition:

"crediting term / financial leasing, subsidizing and guaranteeing - up to 10 years inclusive, in case of this BVU, FRP, LX and AKK can provide the preferential period / delay on payment of not subsidized part of rate of remuneration and/or repayment of principal debt for the credit / financial leasing for the term of no more than one third of duration of term of the credit / financial leasing.";

the eleventh to state the paragraph in the following edition:

"3) being faces tied with BVU, FRP, in LX and AKK performing financing or financial leasing, the special relations;";

state Item 9 in the following edition:

"9. Conditions of subsidizing of the SChP projects:

Conditions of subsidizing of the SChP projects in processing industry, on services and conversion in agro-industrial complex:

Subsidizing is performed at the expense of the funds allocated for implementation of actions of the State program of the support and business development "The road map of business-2025" approved by the order of the Government of the Republic of Kazakhstan of December 24, 2019 No. 968, and this mechanism.

Financing of subsidizing of rate of remuneration on the issued BVU, LX, by FRP and AKK to the credits / financial lysinedin of SChP is performed from means of the republican budget.

Subsidizing of projects in processing industry and services is performed on the credits / to leasing transactions with the nominal rate of remuneration which is not exceeding 15% per annum from which 6% SChP will be paid, and the difference to be subsidized with the state.

Subsidizing of projects on conversion in agro-industrial complex is performed on the credits / to leasing transactions with the nominal rate of remuneration which is not exceeding 15% per annum from which 5% SChP will be paid, and the difference to be subsidized with the state.

Action of the third and fourth parts of this Item extends to the relations which arose since December 11, 2018.

The term of subsidizing of the credits directed to investments constitutes no more than 10 years without the right of prolongation of term of subsidizing.

The term of subsidizing of the credits and financial leasing allocated for replenishment of current assets constitutes no more than 3 years without the right of prolongation of term of subsidizing.

Conditions, procedure and the mechanism of subsidizing, and also monitoring of implementable projects within this mechanism are regulated by Rules of subsidizing of part of rate of remuneration within the State program of support and business development "The road map of business-2025".";

state Item 10 in the following edition:

"10. Conditions of guaranteeing SChP projects:

BVU credits / financial leasing of LX with the nominal rate of remuneration which is not exceeding 15% per annum are subject to guaranteeing. The guarantee size within one project of the borrower cannot exceed 50% of the credit amount / financial leasing to 1 billion tenges inclusive.

Guarantee period - no more loan term.

At the same time the difference in providing on the credit (mortgage cost) becomes covered by the entrepreneur.

On financial leasing of SChP provides participation with own means (money) in the amount of at least 20% of leasing subject cost.

On financial leasing acceptance as collateral security of real and/or personal estate, and also guarantees of founders/participants/shareholders and/or the third parties is allowed.

Conditions, procedure and the mechanism of guaranteeing, and also monitoring of implementable projects within this mechanism are regulated by the Rules of guaranteeing on the credits within the State program of support and business development "The road map of business-2025" approved by the order of the Government of the Republic of Kazakhstan of December 31, 2019 No. 1060.

Conditions, procedure and the mechanism of guaranteeing, and also monitoring of implementable projects on production and conversion in agro-industrial complex are regulated by the order of authorized state body in the field of development of agro-industrial complex.";

state Item 12 in the following edition:

"12. The financial agency will perform:

1) monitoring of target use of the new credit and financial leasing of SChP with which the agreement of subsidizing is signed;

2) collection and information analysis on target and timely financing of the provided means of BVU, FRP, AKK and financial leasing on LX.

Collection and information analysis on target and timely financing of the provided means of BVU, FRP, AKK and financial leasing on LX are performed by the financial agency based on the report of BVU, FRP, LX and AKK according to Rules of carrying out the analysis of target use of the means by banks of the second level provided within the mechanism of crediting of priority projects, the approved authorized body on entrepreneurship.

For the purpose of carrying out monitoring of economic results of the allocated funds the Committee of state revenues of the Ministry of Finance of the Republic of Kazakhstan represents to the financial agency in the presence of the consent of SChP the following data which are tax secret and containing information about:

gross annual income taking into account the income, non-taxable;

the income from foreign sources about chargeable income;

expenses on the realized goods (works, services);

expenses on imputed incomes of workers;

net income;

number of workers (people);

to the average monthly salary on one worker;

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