Article 33. Subsidizing the interest rate on loans issued by financial institutions and coupon interest on bonds of the Industrial Policy Act
1. Subsidizing the interest rate on loans issued by financial institutions and coupon interest on bonds of subjects of industrial and innovative activity is carried out for the implementation of industrial and innovative projects aimed at the creation of new industries, modernization (technical re-equipment) and expansion of existing industries, as well as financial and economic recovery, to improve and (or) restore the investment attractiveness of existing and (or) idle industries, subject to their participation by providing their own movable or immovable property, including money.
There is no subsidization of the interest rate on loans issued by financial institutions and coupon interest on working capital replenishment bonds.
2. Subsidization of the interest rate on loans issued by financial institutions to subjects of industrial and innovative activity and coupon interest on bonds issued by subjects of industrial and innovative activity is carried out by a financial agent designated by the Government of the Republic of Kazakhstan for the implementation of industrial and innovative projects.
3. The conditions and mechanisms for subsidizing the interest rate on loans issued by financial institutions and coupon interest on bonds are determined by the Government of the Republic of Kazakhstan.
This Law establishes the fundamental principles of industrial policy and regulates public relations that arise during the formation and implementation of industrial policy.
President
Republic of Kazakhstan
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