Kazakhstan

(i) No amount/estimate: 10 March 2020, The National Bank raised its policy rate from 9.25% to 12% and widened the interest rate corridor from 100 to 150 bps, after pressures on the tenge (KZT) intensified with the drop of oil prices. In early April, the NBK cut the base rate to 9.5% and further widened the corridor to +/-200 bps to stimulate economic growth. On 20 July 2020, the NBK cut the base rate by another 50bps to 9%, and narrowed the corridor to +/- 150 bps. On 26 July 2021, the Monetary Policy Committee decided to set the base rate at 9.25% per annum with the interest rate corridor of +/- 1.0 percentage points. (ii) No amount/estimate: 20 May 2020, interest on subsidized credit from the "Economy of Simple Things" program is being cut from 13-15% to 6%.

10 June 2020: (i) No amount/estimate: The authorities lowered risk weights for SME exposure in tenge (from 75% to 50%) and for FX loans (from 200% to 100%) until October; (ii) No amount/estimate: Lowered the capital conservation buffer by 1%.

No amount/estimate: As part of the recovery package, Kazakhstan will abandon its 10% flat tax rate and switch to a progressive personal income tax.

(i) No amount/estimate: 14 May 2020, VAT rate has been reduced from 12% to 8% until 1 October 2020 with the exception of food and drugstores, transportation services, consulting services and information technology; (ii) No amount/estimate: Tax exemptions on property taxes for large retail businesses, land taxes for farmlands of agricultural producers, and individual income taxes for entrepreneurs.

(i) No amount/estimate: 20 May 2020, residents in Almaty can defer utility payments for March and April until the end of 2020 with no fines or penalty. Reimbursement of utilities expenses for April and May in amount of KZT15,000 will also be provided for socially vulnerable groups; (ii) No amount/estimate: July, The government announced a new round of income support payments of KZT42,500 to certain categories of the population.

No amount/estimate: 20 March 2020, The government exempted rents of state-owned properties for a period of three months.

(i) As part of the president's anti-crisis package, KZT8 billion in salaries will be paid to doctors, police officers and other specialists) and support employment and business; (ii) KZT1.8 trillion will be allocated to support employment under an “Employment Roadmap” program.

(i) TA 9950-REG: Regional Support to Address the Outbreak of COVID-19 and Potential Outbreaks of Other Communicable Diseases - USD2.36 million; (ii) 3 June 2020, Developing a Disaster Risk Transfer Facility in the Central Asia Regional Economic Cooperation Region (Additional Financing) - USD0.07million; (iii) 25 June 2020, COVID-19 Active Response and Expenditure Support - USD1.0776 billion (with an additional USD750 million co-financed); (iv) 1 July 2020, Promoting Digital Finance Solutions for Inclusive Finance among Partner Financial Institutions - USD0.05 million; (v) 13 July 2020, Addressing Health Threats in the Central, West, and East Asia Region - USD0.13 million; (vi) 24 July 2020, Due Diligence and Capacity Development of Trade Finance Program Banks - USD0.06 million; (vii) 27 August 2020, COVID-19 Emergency Response - USD3 million; (viii) 5 November 2020, Creating Investable Cities in Post-COVID-19 Asia-Pacific: Enhancing Competitiveness and Resilience through Quality Infrastructure - USD0.11 million; (ix) 18 November 2020, Supporting Startup Ecosystem in the Central Asia Regional Economic Cooperation Region to Mitigate Impact of COVID-19 and Support Economic Revival - USD 0.05 million; (x) 26 November 2020, Addressing Health Threats in the Central, West, and East Asia Region (Additional Financing) - USD0.03 million; (xi) 1 December 2020, Improving Public Debt Management - USD0.15 million; (xii) 11 December 2020, COVID-19 Rapid Response, Solidarity Fund for Kazakhstan - USD1 million; (xii) 7 September 2021, Due Diligence and Capacity Development of Trade Finance Program Banks (Subproject 4) [update] (USD0.19 million); (xiii) 22 September 2021, Fostering Regional Cooperation and Integration through Knowledge and Capacity Building of Trade and Supply Chain Finance Program Banks (USD 0.06 million).

(i) Kazakhstan received World Bank support and has restructured part of its Social Health Insurance Project to provide USD10 million for critical medical equipment; (ii) 26 May 2020, USD3.1 million from USAID to prepare laboratory systems, activate case-finding and event-based surveillance, support technical experts for response and preparedness, bolster risk communication, and more; (iii) 23 June 2020, USD40 million from the EBRD to address liquidity needs of MSMEs; (iv) 25 June 2020, COVID-19 Active Response and Expenditure Support - USD750 million co-financing from AIIB; (v) 8 October 2020, USD30 million from the European Investment Bank to provide affordable lending to Kazakh small and medium sized enterprises (SMEs).