"Damu" Entrepreneurship Development Fund" JSC (hereinafter - "Damu" Fund/the Fund) was established based on the Decree of the Government of the Republic of Kazakhstan of 26.04.1997 № 665 "On the establishment of small business development fund" [1] .
Before 2001 the Fund was functioning as an agent for the Management of the state budget funds for the Program of measures to support domestic commodity producers, and for loan facilities of the European Bank for Reconstruction and Development and the Asian Development Bank.
Since 2002, the Fund began lending to small businesses directly from its own funds. "Damu" Fund had implemented the "Lending program for small businesses from the national budget" and "Small towns’ development program for 2004-2006".
In May, 2005, the Government of the Republic of Kazakhstan had adopted the "Program of accelerated measures for the development of small and medium enterprises in the Republic of Kazakhstan for 2005-2007". Under this program, over the period of 2005-2007 the Fund was supporting small enterprises (hereinafter - SEs) through implementation of project financing and leasing programs, development program of microlending in Kazakhstan, and guarantee programs for SE loans received in second-tier banks (hereinafter - STBs).
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