Entrepreneurship Development Fund “Damu” (hereinafter “Damu”) established in accordance with Resolution of the Government of Republic of Kazakhstan dated 26.04.1997. No. 665 “On the establishment of a small business development fund”.

Until 2001 fund served as an agent for accounting and control over the use of state budget under the Program of Measures to Support Domestic Producers, also on credit lines of European Bank for Reconstruction and Development and Asian Development Bank. Since 2002 fund began lending to small businesses directly from its own funds.

Damu implemented the “Program for crediting small businesses from national budget” and “Small Towns Development Program for 2004-2006”.In May 2005 Government of Republic of Kazakhstan adopted “Program of accelerated measures for the development of small and medium-sized enterprises in Republic of Kazakhstan for 2005-2007.” In accordance with this program, during 2005-2007. Fund supported to small business (hereinafter referred to as MP) through the implementation of project financing and leasing programs, microcredit system development program in Kazakhstan, and programs for guaranteeing loans to MB entities received in second-tier banks.Since September 2006. “Damu” functions as a part of joint-stock holding of JSC “Sustainable Development Fund Kazyna “.

In accordance with Decree of President of Republic of Kazakhstan from 22.05.2013. No.571 “On some measures to optimize the management system of development institutions, financial organizations and development of national economy” 100% of shares of Damu were transferred to JSC “National managing holding” Baiterek “(hereinafter – JSC” NUKH “Baiterek”). Before issuance of this decree, 100% of  Damu’s shares belonged to JSC Samruk-Kazyna National Welfare Fund (hereinafter – Samruk-Kazyna National Welfare Fund) and since December 28, were in a trust management of Ministry of Economic Development and Trade of the Republic of Kazakhstan, and from 10.04.2013. – Ministry of Regional Development of Republic of Kazakhstan. Now, sole shareholder of the Fund is JSC “NUKH” Baiterek “. Since the end of 2007 Fund carries out operator’s functions for stipulated allocation of funds of Stabilization Program of Government of Republic of Kazakhstan.

Since 2010 Damu became a financial agent for subsidizing interest rates on loans to entrepreneurs and guaranteeing entrepreneurs’ loans to banks, as well as acting as operator of training and consulting programs under state program Business Road Map 2020 (hereinafter – DKB 2020 program).

Since 2015 Damu became a financial agent implementing and monitoring financial support (subsidizing interest rates on business loans, guaranteeing entrepreneurs’ loans to banks) within the framework of Single Business Support and Business Development Program “Business Road Map 2020”.

In 2012-2014 established 18 Business Service Centers in all regional centers and cities of Astana, Almaty, Semey, Turkestan, as well as 14 mobile Business Support Centers.

Branches of Damu work in all regions of Kazakhstan and have considerable experience working with local entrepreneurs, public organizations and local executive authorities.


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