The seminar will be held to discuss the recommendations made as part of the implementation of Phase II of the project on the development of the technical and economic feasibility of creating a factoring platform

On November 28, 2019, a seminar will be held in Nur-Sultan to discuss the recommendations made as part of the implementation of Phase II of the project on the development of the technical and economic feasibility of creating a factoring platform in the Republic of Kazakhstan.  The seminar will be held in the conference hall of the Rixos President Astana Hotel.

The seminar will be attended by representatives of interested government bodies (Ministry of National Economy of the Republic of Kazakhstan, Committee on State Revenues of the Ministry of Finance of the Republic of Kazakhstan, Ministry of Justice of the Republic of Kazakhstan);  financial regulator (National Bank of the Republic of Kazakhstan, State Credit Bureau, Kazakhstan Center for Interbank Settlements, Kazakhstan Stock Exchange);  quasi-state organizations (Atameken National Chamber of Entrepreneurs, Damu Fund, Baiterek National Management Holding, Astana International Financial Center) as well as international financial organizations (International Bank for Reconstruction and Development (World Bank), European Bank for Reconstruction  and Development, International Finance Corporation). 

Also, on November 27, 2019, a seminar will be held in Almaty on the site of the Association of Financiers of Kazakhstan with the participation of all interested financial organizations, including second-tier banks, factoring companies and microfinance organizations.

At these seminars, the international consulting company Capital Tool Company Consulting B.V.  (Netherlands), together with consultants from Grant Thornton, will present the results of the work done in Phase II, as well as discuss with all key stakeholders the structure and content of documents being developed / recommendations for consideration in future work.

Project Background:

Small and medium-sized businesses are given the main role in the development of the economy, ensuring the employment of the country's population.  Today, small businesses play a key role in the development of the economy of any state.  Despite the close attention paid in our country to the development of small and medium-sized businesses, its impact on socio-economic development is still not sufficiently noticeable.

Given the above, it became necessary to implement the project "SME competitiveness" in the Republic of Kazakhstan.  The project is implemented by the Ministry of National Economy with the support of the World Bank.

One of the key areas of the Project is to increase the access of SMEs to financing.  To this end, the Project analyzes the feasibility of creating a national factoring platform in the Republic of Kazakhstan in order to provide SMEs with short-term working capital.