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Is there a grace period for the repayment of microcredit?

In the framework of the State Program for the Development of Productive Employment and Mass Entrepreneurship for 2017–2021, “Enbek” microcredits are issued to the unemployed, self-employed and unproductively employed, start-up and active entrepreneurs, agricultural cooperatives and their members (who have not reached the retirement age established by paragraph 1 of Article 11 of the Law of the Republic Kazakhstan "On pension provision in the Republic of Kazakhstan"), peasant and farm enterprises, including participants of anchor cooperation.

Microcredits issued under the Program are preferential microcredit.

Thus, Program participants who have received microcredits are given the opportunity to receive a grace period for repayment of the principal debt and remuneration for a term of not more than one-third of the duration of the microcredit period by the decision of the lender.

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