A subsidiary of Almaty SEC JSC, Almaty Finance LLP, financed the construction of a private general education school in the Nauryzbai district of Almaty.
The borrower, Orken Education LLP, allocated 200 million tenge of its own funds for the partial purchase of construction materials and the subsequent raising the first floor. In turn, Almaty Finance LLP provided 288 million tenge for the completion of the construction and the equipping of the educational institution.
The project is being financed under the regional entrepreneurship development program "Almaty Business-2025." The loan interest rate is 6% per annum, with a financing term of 5 years. The construction is scheduled to be completed by the summer of 2025. Upon opening, the new educational institution will accommodate up to 420 students simultaneously.
"The construction of the new school will help address the shortage of school places in the Nauryzbai district. The project also involves the creation of 50 new jobs. Moreover, operation of the private school will increase tax revenues to the local budget," noted Zhuldyz Igenov, Deputy Chairman of the Management Board of LLP Almaty Finance LLP."