Kazakhstan Chamber of Commerce in the USA


EBRD, TCO to Launch Small Business Support Program in Kazakhstan

Posted on November 08, 2015 by KazCham

Astana Times

A new, two-year support program for small- and medium-sized enterprises (SMEs) in Kazakhstan has been launched by the European Bank for Reconstruction and Development (EBRD) and Tengizchevroil (TCO), Kazakhstan’s top oil producer, the EBRD announced Oct. 6.

The roughly $515,000 program, which will run from 2015–2017, will cover SMEs across Kazakhstan and promote entrepreneurship and help promising SMEs innovate, compete and reach new markets, according to the EBRD. It will include existing and potential suppliers to TCO, which operates the country’s giant Tengiz oilfield, as well as SMEs with no links to the company, according to the EBRD.

The program aims to increase SME access to know-how and finance, strengthen links between businesses and to improve the market for advice and the exchange of best practices through business clinics and seminars on strategy, marketing, human resource management, finance and bookkeeping and other topics. Eligible SMEs will also have a chance to work with local consultants and international industry experts on a cost-sharing basis, with the possibility of having up to 75 percent of their costs covered, the EBRD announced.

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