As part of the Rules of compensation for property losses caused to small and medium-sized enterprises (SMEs) as a result of floods in 2024 (Order of the Deputy Prime Minister - Minister of National Economy of the Republic of Kazakhstan dated 22 April 2024 № 18), local executive bodies (LEBs) are working to receive and consider applications from SMEs for compensation for damages.

At present, funds in the amount of 12.1 billion tenge have been allocated from the Government's reserve to compensate for property losses of entrepreneurs.

According to the data of MIO as of 30 July 2024, SMEs submitted 455 applications for the amount of KZT 9.3 billion, of which 374 applications (82.1%) for the amount of more than KZT 5.8 billion are currently approved.

Of these, 222 applications have resulted in payments to entrepreneurs totalling KZT2.2 billion.

Most applications were approved in Atyrau region - 215 applications for the amount of 2.1 billion tenge, West Kazakhstan region - 40 applications for 2.5 billion tenge, North Kazakhstan region - 44 applications for 901.8 million tenge, Kostanay region - 35 applications for 206 million tenge, least of all in Aktobe region - 24 applications for 366 million tenge and Akmola region - 16 subjects for 61.1 million tenge.

By type of activity, mainly affected were the objects of trade, public catering, recreation centres and hotels and other sectors. In particular, of the approved applications, more than 70% are shops, trading houses and markets, about 4% are catering facilities, 4% are industrial and food production facilities, about 3% are hotels, recreation centres and other business facilities.   

Applications for compensation are considered by regional commissions within 5 working days and, if sufficient funding is available, payments are made within 10 working days.

Payments to entrepreneurs on the remaining applications are planned to be completed by the end of August this year. For the objects requiring major repairs and reconstruction, the funds will be transferred upon the results of acceptance of design and estimate documentation and expertise.