ORDER OF THE GOVERNMENT OF THE REPUBLIC OF KAZAKHSTAN

of July 19, 2022 No. 505

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:

state Item 1 in the following edition:

"1. And JSC Agrarian Credit Corporation (further – AKK) in 2018 - 2023 for support of the subjects of private entrepreneurship (further – SChP) performing activities in processing industry and agro-industrial complex will constitute the total amount of financing by National Bank of the Republic of Kazakhstan of banks of the second level (further – BVU) to 1 trillion tenge.";

state Item 3 in the following edition:

"3. Target indicators

Target indicators:

1) decrease in share of import on goods of economy of simple things for 20% by 2024 of the level of 2018;

2) growth of production of economy of simple things by 20% by 2024 of the level of 2018.";

in item 4:

state part one 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 the final return rate tied to the size of the base rate of remuneration established by National Bank of the Republic of Kazakhstan and increased no more than by percent point 1,5.";

third to state part in the following edition:

"The maximum limit of bonds acquisition on each BVU shall not exceed 182 billion tenges, but no more 1, the 5-fold size of equity on one BVU, and 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 fourth Item 5 to state part in the following edition:

"Within the mechanism purchase of shares is not allowed.";

in Item 7:

third to state part in the following edition:

"nominal rate of remuneration for SChP of no more base rate of remuneration established by National Bank of the Republic of Kazakhstan and increased by 4,5 (four and a half) percent points;";

the fifth to state part in the following edition:

"the term of subsidizing and guaranteeing – up to 5 years inclusive, in case of this BVU, 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 seventh to state part in the following edition:

"At the same time the SChP projects are not subject to financing:

1) over 90 calendar days having overdue loan debt at the time of crediting or submission of the credit request according to data of credit bureau;

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

add with part nine of the following content:

"When financing SChP on projects in processing industry on OKED 1101 (distillation, rectification and mixing of alcoholic drinks) the following selection criteria of projects are applied:

1) the amount of the tax payments for each calendar year paid to SChP, which are turning out excisable products on OKED 1101 (distillation, rectification and mixing of alcoholic drinks) prior 3 years prior to participation in the mechanism is equivalent to the amount or makes at least 10% of total income of the local budget in the location of object of production of SChP;

2) the annual amount of the taxes paid to SChP, which are turning out excisable products on OKED 1101 (distillation, rectification and mixing of alcoholic drinks) the last 3 calendar years prior to participation in the mechanism is not lower than 1 600 000 MRP.";

add Item 8 with the subitem 5) of the following content:

"5) turning out excisable products on OKED 1101 (distillation, rectification and mixing of alcoholic drinks), the following requirements are imposed:

- for 100% the investment purposes: increase in workplaces or growth of the income by 20% after 3 (three) financial years from the date of the decision of working body / the financial agency about subsidizing;

- on the investment purposes and replenishment of current assets in the amount of no more than 50% within one project of the borrower: increase in workplaces and/or tax payments and/or production volume (in terms of money), and/or growth of the income for 20% after 2 (two) financial years from the date of the decision of working body / the financial agency about subsidizing (the companies, not tax-exempt, provide increase in tax payments according to requirements of the mechanism).";

state Items 9 and 10 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 national project on development of the entrepreneurship for 2021 - 2025 approved by the order of the Government of the Republic of Kazakhstan of October 12, 2021 No. 728, and this mechanism.

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

Subsidizing of projects on conversion in agro-industrial complex, in processing industry and services is performed on the credits / to leasing transactions with the nominal rate of remuneration which is not exceeding the base rate of remuneration established by National Bank of the Republic of Kazakhstan and increased by 4,5 (four and a half) percent points from which 7% SChP will be paid, and the difference to be subsidized with the state.

Subsidizing of projects in processing industry on OKED 1101 (distillation, rectification and mixing of alcoholic drinks) is performed on the credits / to leasing transactions with the nominal rate of remuneration which is not exceeding the base rate of remuneration established by National Bank of the Republic of Kazakhstan and increased by 4,5 (four and a half) percent points from which 7,5 of % will be paid with SChP, and the difference to be subsidized with the state.

Action of part three 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 5 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.

The credits / the financial leasing directed to refinancing of credits/agreements of financial leasing, earlier approved/issued to BVU/LK, which is under sanctions and corresponding to the conditions specified in this mechanism are also subject to subsidizing.

At the same time refinancing is performed only at the expense of own means of BVU/LK.

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 national project on development of entrepreneurship for 2021 - 2025.

10. Conditions of guaranteeing SChP projects:

BVU credits / financial leasing of LX with the nominal rate of remuneration which is not exceeding the base rate of remuneration established by National Bank of the Republic of Kazakhstan and increased by 4,5 (four and a half) percent points for BVU/LK decision date are subject to guaranteeing. The guarantee size within one project of the borrower cannot exceed 50% of credit amount, to 1 billion tenges inclusive. On financial leasing the maximum size of guarantee cannot exceed 70% of the cost of subject of leasing which amount does not exceed 1 billion tenges inclusive. Acceptance as collateral security of real and/or personal estate, and also guarantees of founders/participants/shareholders and/or the third parties is allowed.

Guarantee period – no more loan term.

At the same time the difference in providing on the credit (mortgage cost) becomes covered by the entrepreneur (when calculating sufficiency of the amount of providing pledge of right to claim and pledge of shares in the authorized capital of economic partnerships are not considered).

BVU credits / the financial leasing of LX issued on investments, replenishment of current assets are subject to guaranteeing (including on renewable basis).

The credits / the financial leasing directed to refinancing of credits/agreements of financial leasing, earlier approved/issued to BVU/LK, which is under sanctions and corresponding to the conditions specified in this mechanism are also subject to guaranteeing.

At the same time refinancing is performed only at the expense of own means of BVU/LK.

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