Published
06/30/2025, 09:11Kazakhstan offers businesses foreign currency loans on the most favorable terms in the entire Eurasian Economic Union. These figures are based on the results of the assessment for the first quarter of 2025, as reported by the Eurasian Economic Commission.
While interest rates on foreign currency loans in some countries in the region are reaching double digits, Kazakhstan is confidently keeping its rates lower than all others. For example, short-term foreign currency loans cost legal entities 7.4%, and long-term loans only 6.7%. For comparison, in Russia, the same loans will cost businesses almost 8.1–12.7%, in Kyrgyzstan up to 9.9%, and in Belarus up to 15.7%.
However, when it comes to loans in the national currency, where rates are traditionally higher, Kazakhstan does not look so attractive. The rate for short-term loans there is 18.7% and 25.8% for long-term loans. Interestingly, Kazakhstan not only has the most expensive loans in the EAEU in national currency, but also has the largest difference between short-term and long-term loan rates.
For example, in Armenia and Kyrgyzstan, the difference is between 0.3% and 0.8%, while in Russia and Belarus, long-term loans are cheaper for businesses than short-term ones. Thus, in Russia, the rate on ruble loans is 22.2%–17.5%, in Armenia—12.5%–12.8%, and in Kyrgyzstan—17.3%–18.1%.
At the same time, Belarus offers the cheapest loans for businesses in national currency, with short-term loans at 11.6% and long-term loans at 10.6%.
