Decree of the Government of the Republic of Kazakhstan No. 78 dated February 21, 2019
Unofficial translation
In accordance with Paragraph 2 of Article 180 of the Budget Code of the Republic of Kazakhstan dated December 4, 2008 and the Law of the Republic of Kazakhstan dated November 30, 2018 "On the Republican Budget for 2019 - 2021," the Government of the Republic of Kazakhstan hereby DECREES AS FOLLOWS:
1. Approve the attached basic conditions for budget lending of the Housing Construction Savings Bank of Kazakhstan Joint Stock Company for provision of preliminary and intermediate housing loans to depositors.
2. The Ministries of Finance, Industry and Infrastructure Development of the Republic of Kazakhstan, in the manner prescribed by law, shall ensure:
1) conclusion of a loan agreement with the Housing Construction Savings Bank of Kazakhstan Joint Stock Company;
2) control for implementation of the basic and additional lending conditions;
3) control and monitoring of the targeted and efficient use, timely repayment and servicing of a budget loan.
3. The Housing Construction Savings Bank of Kazakhstan Joint Stock Company (as agreed) quarterly, no later than the 10 day of the month following the reporting period, shall provide information on disbursement of a loan to the Ministries of Finance, Industry and Infrastructure Development of the Republic of Kazakhstan.
4. The control over the implementation of this Decree shall be assigned to the Ministry of Industry and Infrastructure Development of the Republic of Kazakhstan.
5. This Decree shall be enforced from its signing.
| The Prime Minister of the Republic of Kazakhstan | B. Sagintayev |
| Approved by the Decree of the Government of the Republic of Kazakhstan No. 78 dated February 21, 2019 |
Basic conditions for budget lending of the “Housing Construction Savings Bank
of Kazakhstan” Joint Stock Company for provision of preliminary and intermediate
housing loans to depositors
1. To provide a budget loan to the Housing Construction Savings Bank of Kazakhstan Joint Stock Company (hereinafter referred to as the borrower) the following basic conditions shall be established:
1) a budget loan shall be provided to the borrower in the amount of 28000000000 (twenty eight billion) tenge, provided by the Law of the Republic of Kazakhstan dated November 30, 2018 “On the Republican Budget for 2019 - 2021” under budget program 231 “Budget lending of the Housing Construction Savings Bank of Kazakhstan JSC” for provision of preliminary and intermediate housing loans";
2) a budget loan shall be provided to the borrower in tenge on terms of urgency, payment and repayment for a period of 20 (twenty) years, at the rate of interest equal to 0.15% (zero point fifteen hundredths) per annum;
3) allocation of a loan from the Republican Budget shall be carried out by a lump sum transfer of the entire budget loan amount to the borrower's correspondent account;
4) development period is 17 (seventeen) years from the day the budget loan shall be transferred to the borrower's correspondent account;
5) payment of accrued interest on a budget loan shall be made 2 (two) times a year in semi-annual payments;
6) repayment of the main debt on a budget loan shall be carried out annually by the borrower in equal shares in the amount of 1,000,000 (one million) tenge after a grace period of not more than 80 (eighty) months from the day the budget loan is transferred to the borrower's correspondent account. Upon the expiration of the loan period provided by Subparagraph 2) of these conditions, the remaining amount of the principal debt shall be repaid at a time;
7) the purpose of providing a budget loan shall be to provide the borrower with preliminary and intermediate housing loans to the participants of the Nurly Zher State Housing Program, with the final interest rate not exceeding 5 (five) percent per annum.
2. Additional conditions for provision, repayment and servicing of a budget loan shall be established in the Loan Agreement in accordance with the Budget Legislation of the Republic of Kazakhstan.
