Residential complex "Akzhaiyk"
Invest in creation

Over 1,400 projects in the field of education have been supported by the Damu Foundation over 5 years

Education is one of the priority sectors of the economy of Kazakhstan, which has been supported by the state through the Damu Entrepreneurship Development Fund JSC (Damu Fund) for many years. From 2016 to 2020, the financial agent of the government supported 1,863 projects for a total loan amount of 193.6 billion tenge. Thus, 3% of the total number of operating private enterprises in the field of education in the Republic of Kazakhstan received state support through the Damu Fund.

A striking example of state support is the construction of the school LLP "First Educational", located in the city of Shymkent. The large-scale project required securing the planned loan from the bank with collateral. Fund "Damu" supported the borrower - issued a guarantee in the amount of 50% of the loan amount. Now more than 700 students study in a new spacious and bright building.

Similar financial assistance in the form of a guarantee instrument was received by the Beskol school-college in the Kyzylzhar district of the North Kazakhstan region. State support was received on a loan for the renovation of a three-story building in which about one thousand children study.

As part of the activities of the Damu Fund, enterprises in the field of education can receive support under 3 instruments. Subsidizing interest on a loan received from a bank, this tool allows entrepreneurs to pay only 6% per annum, the difference is paid by the state represented by the Damu Fund. At the beginning of 2022, 1,189 projects were supported for a total loan amount of 175.5 billion tenge. Guarantee, in case of shortage of collateral, is issued up to 85% of the loan amount. As of the same date, 626 projects were supported for 40.4 billion tenge of loans. And for the last instrument - concessional lending, at the expense of funds placed in financial institutions of Kazakhstan for further lending to SMEs, as of January 1, 2022, 504 borrowers were supported for 21.4 billion tenge.

Projects in the field of education, supported by the Damu Fund, gave a good socio-economic effect. Over five years, more than 1,500 jobs were created, 17.9 billion tenge paid in taxes, and educational services worth 275.2 billion tenge were provided. Thus, the state for each invested 1 tenge of subsidies contributed to the return of a little more than 3 tenge in the form of taxes paid.

The leading regions in terms of taxes paid among the projects supported by the Damu Fund over a five-year period were Almaty (6.7 billion tenge), Nur-Sultan (3.3 billion tenge) and the Turkestan region (1.9 billion tenge). In terms of the number of places created, the leaders are Mangistau region - 342, Nur-Sultan - 293 and Turkestan region - 148 jobs.

LLP "Kindergarten" Yer-Khansultan Kids "in the Turkestan region is one of the examples of high-quality development of public funds. Parents are happy to bring their kids to kindergarten with new furniture purchased with financial participation from the state.

In Atyrau IP "Tasemenov B.S." decided to expand its activities and purchase another building so that more kids could develop and prepare for school in the circle of professional educators. Such plans became possible thanks to the state support of the Damu Fund.

At the end of 2020, portfolio subsidies and guarantees were introduced, and education companies eagerly took advantage of the new product. The conditions under this program turned out to be attractive - the loan amount is not more than 20 million tenge, for a period of not more than three years, the entrepreneur pays a 6% loan rate, the goals of the loan can be investments and replenishment of working capital. From the beginning of the program to the present, 124 projects have been subsidized for 1 billion tenge. Half of the money was attracted for investment purposes, the other part - for replenishment of working capital. The city of Nur-Sultan, Almaty and Almaty region became the leaders of state support in this area.

“The Damu Foundation is pleased to contribute to the development of youth education and support the activities of private kindergartens and schools. This is not only a contribution to the development of the country's economy, the creation of new jobs, but, above all, improving the quality of people's lives,” said Gaukhar Buribayeva, Chairman of the Board of the Damu Fund.

State support for private educational institutions is in great demand. Over the past five years, the number of supported projects has quadrupled to 641 projects in 2021.

Please publish modules in offcanvas position.