“Now ADB, together with Atameken, is investing in workshops that take place in all regions of Kazakhstan from June to October. We believe it is necessary to develop not only big cities like Nur-Sultan, Almaty but also the countryside. In the near future, it is planned to start issuing $10 million loans to Forte Bank through the Damu Fund,” said Rafael Akuino, an analyst on operational issues at ADB, about the role of ADB in supporting women entrepreneurs in Kazakhstan, as reported by fundwomen.kz.

The first seminar on the Development of Women’s Entrepreneurship in Rural Regions was held May 23-24 in the Kokterek village, the Turkestan Region.

The course programme includes presentations of credit programmes (criteria, conditions and requirements for lending and other topics) of second-tier banks and microfinance organisations that participate in the ADB and Damu programmes. The emphasis is placed on the creation and maintenance of financial statements, understanding of legal issues when starting a business, the correct formation and submission of documentation for obtaining affordable loans.

The businesswomen are also taught how to draw up business plans, find customers as well as develop advertising skills and online business promotion skills.

Women entrepreneurs and registered individuals in rural areas, as well as individuals (self-employed) who have been trained under the Bastau Business project and failed to receive funding for various reasons, can all take part in the course.

“At the seminar we teach how to develop oneself, how to choose a field for development, how to expand and supplement it. We explain what marketing, financial, legislative tools can be mastered in the course of running one’s business. One aspect of the training is the participation of representatives of financial institutions, through which women learn about the possibility of additional funding. Our task is to help them manage their finances and determine what skills they should have and develop for their management,” said Bakhytgul Elchibaeva, a business coach and Executive Director of the Local Communities Fund of the Enbekshikazakh District, who gave one of the workshops in the Almaty Region June 27-28.

The workshops have now been held in six regions, including Akmola, Almaty, East Kazakhstan, Mangystau, North Kazakhstan and Turkestan regions.