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Karim Massimov held a meeting of Samruk-Kazyna Board

12 january 2012, 18:50
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Karim Massimov. Photo courtesy of flickr.com/photos/karimmassimov/
Karim Massimov. Photo courtesy of flickr.com/photos/karimmassimov/
On January 12 Karim Massimov held a meeting of the Board of Samruk-Kazyna National Welfare Fund (NWF), Tengrinews.kz reports citing sk.kz.

“At the meeting Samruk-Kazyna Board of Directors reviewed and made necessary decisions on Damu Entrepreneurship Development Fund's issuing of loans to entrepreneurs who suffered from clashes in Zhanaozen,” Samruk-Kazyna’s website writes.

This decision will give Damu Fund the right to directly fund Zhanaozen businessmen. Before that the financing was extended only through the program of conditioned placement of funds in second-level banks. In the other word, Damu Fund provided money to the commercial banks for the latter to issue cheap loans to the population. Now the Fund will be able to expend loans to Zhanaozen businessmen directly.

According to the government’s decree On approval of the Special plan for entrepreneurship development in Zhanaozen for 2012-2014, Damu Fund will directly allocate 600 million tenge ($4 million) for financial aid to entrepreneurs who suffered after clashes in Zhanaozen.

Besides, the Board of Directors agreed on appointing the chairman of the Board of Samruk-Kazyna Umirzak Shukeyev a member of the Board of Directors of KazMunaiGas National Oil Company and KazAtomProm National Atomic Company.

The meeting also included a report by Kazakhstan Finance Minister and chairman of monitoring, control and analyses commission of the Board of Directors of Samruk-Kazyna Bolat Zhamishev on the results of controlling of the use of funds of the National Fund allocated by the NWF.

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