Microcrediting for Women's Entrepreneurship

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The Council of Business Women of the NCE RK "Atameken" concluded memorandums with the Eurasian Group (ERG) and the Halyk Bank of Kazakhstan on allocation of funds for women's business projects.

The documents were signed at the Congress of Business Women, which was held in Astana within the framework of the 5th Congress of the National Chamber of Entrepreneurs "Atameken".
The head of the National Chamber stressed the importance of developing women's entrepreneurship, which today is one of the most popular global trends and drivers for economic growth. According to statistics, countries where women posess great opportunities in economic domain are more successful and developed.

"Kazakhstan is keeping up with these trends: today our women make a special contribution to the development of the state. They are responsible and work in various spheres of the economy, including public service, science, business, education and healthcare" - said Timur Kulibayev.

He promised that Atameken will support women's entrepreneurship, organizationally and financially. Particular attention will be paid to teaching the basics of business, mastering new professions in a short time.

Timur Kulibaev cited the example of the "Global" company, which is engaged in tailoring special clothes for ERG enterprises with the training and production complex "Umit" which was opened with the assistance of the RCE and included in the Register of Atameken Training Centers. First of all, short-term courses of "Umit" are designed for unemployed citizens and people with disabilities. Since April a few dozen women completed courses in the specialty of "tailoress". Now there is a training of new students in the specialty of cutter and tailor. According to Timur Kulibayev, women have the opportunity to have a new profession that would allow them to find employment in a local enterprise. They can have a stable income and keep their families.

"A wonderful experience. We also give this example to the Government in order to improve the effectiveness of our educational programs. And thanks to long-term contracts with ERG, "Global" is already expanding its business. Now, in addition to Aktyubinsk, it will work in Kostanay region" - Timur Kulibayev said.

The Council of Business Women of the NCE RK "Atameken" concluded memorandums with the Eurasian Group (ERG) and the Halyk Bank of Kazakhstan for financial support of women's entrepreneurship. The documents were signed by Lazzat Ramazanova, Chairman of the Business Women's Council, Umut Shayakhmetova, Chairman of the Board of Halyk Bank of Kazakhstan, and Alexander Mashkevich, Chairman of the Board of Directors of ERG.

"Throughout its activities, the Eurasian Group seeks to ensure the well-being and prosperity of those who rely on us" - said Alexander Mashkevich, Chairman of the Board of Directors of ERG. - We create conditions for our employees and residents of our "home" cities, where ERG enterprises are located, to make people more self-sufficient. We systematically develop the ecosystem of entrepreneurship".

According to the memorandum, the Eurasian Group will allocate financial funds to the NCE RK "Atameken" on a return basis. The money will be spent on the development and support of women's business projects of the Republic of Kazakhstan. The Halyk Bank of Kazakhstan will provide financial support.

"We are opening financing for women's entrepreneurship, allocating 1 billion tenge. This money is allocated for the year 2018. The financing rate is 5%, we are ready to support women and their start-ups, investments, working capital. Why did we make such a decision? Because our women are responsible and financially disciplined" - Umut Shayakhmetova said.

The signed memorandums will contribute to the creation of an effective system of microcrediting of the subjects of women's entrepreneurship to further stimulate the production and filling of the market with goods and services, as well as to help novice businesswomen in acquiring the experience of how to run their business.