USD/KZT 412.55 
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ALMATY. March 16. KAZINFORM. /Daniyar Sikhimbayev/ As a result of joint work of Almaty akimat and Samruk-Kazyna Fund 35 out of 97 unfinished construction projects are being completed without government aid - Chairman of the Board of Samruk-Kazyna Kairat Kelimbetov announced at the session with the participation of Kazakhstan Prime Minister in Almaty today. From the other 62 unfinished buildings 54 can be finished through the facilities envisaged by the Joint Action Plant. “As for the accomplished residential estate, it counts 657 apartments, as informed by the Akimat ”, Kelimbetov said. “There are several funding facilities for the unfinished construction. The first is direct lending to developers wishing to sell real estate at a fixed price through Damu Fund or second-tier banks. To date we have received 15 appliations from developers. From March 20 we will start financing the residential estate with 2 500 interest holders participating. The second facility is funding by banks, Kazakhstan Mortgage Company for lending to the pool of mortgage borrowers. Three banks have furnished applications on this facility on 14 residential estates. The third method is bailout of unsold estate through Samruk-Kazyna. This is a new facility. At present we are completing arrangement procedures and negotiating the price with construction companies”, the director of the Fund said. Kairat Kelimbetov emphasized that KZT 120 billion were budgeted to support small and medium businesses. “We plan to utilize up to KZT 30 billion monthly. To date banks have utilized KZT 10.3 billion over the last two weeks”, he added.


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