20 bln tenge to be allocated for domestic car industry in Kazakhstan

Date: 16:04, 19-02-2015.

Astana. February 19. KazTAG - 20 bln tenge will be allocated in Kazakhstan for support of domestic car industry, said Yerbolat Dosayev, Minister of National Economy.
"20 bln tenge will be allocated for stimulation and support of domestic car industry. The final distribution of the sum will be defined. It will flow in two ways: for individuals through second tier banks in the form of additional crediting. It means the final interest rate will make up 6%. The second mechanism is much cheaper- it is financial leasing, which will first of all concern the legal entities, the leasing rate will be up to 4%," he said.
In his words, "this tranche which will come for car industry will activate internal market of cars sale and help domestic manufacturers become more competitive".
"It won’t be subsidizing, the interest rate will make up 6 percent per annum," he added.

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