ANNOUNCEMENT 01 Jan 2009

In January 2009, the government of Kazakhstan announced a change in private-sector financial support.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE



Official Information from the website of the Ministry for Economic Development and Trade of Kazakhstan -
http://www.minplan.kz/economyabout/8005/5542/


Inception date: 01 Jan 2009 | Removal date: open ended
Still in force

Financial grant

The Government of the Republic of Kazakhstan in 2009 supported 4 banks with the sum of 476 billion tenge - (3.3 billion US dollars) in order to support the financial system of the country.
Thus,
BTA bank got 212 billion tenge (1.5 billion US dollars)
KKB bank got 120 billion tenge (823 million US dollars)
Narodnui Bank got 120 billion tenge (823 million US dollars)
Al'yans Bank got 24 billion tenge (165 million US dollars)
 
The amount of money provided to BTA bank was used by government to buy 75.1 percent of the shares of this bank. With regard toKKB bank, 36 billion tenge were used to buy 25 percent of the shares while 84 billion tenge were used to provide loans to the real sector of the Kazakh economy.
 
From 120 billion tenge for Narodnui Bank, 60 billion were used to buy 25 percent of the shares while second half went to support the real sector of the economy. In case of Al'yans Bank, 24 billion tenge increased the capitalization of this bank.
 
 

AFFECTED SECTORS

 
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AFFECTED PRODUCTS

 
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