Kazakhstan improves their agricultural business lending system
Kazakhstan improves their agricultural business lending system. Currently, agricultural producers, even in the most remote areas can receive funds for the development of the business. For example, more than 12 thousand farmers have already received loans from the ‘Agrarian Credit Corporation’. As representatives of the company note, for the past 15 years, 176 credit companies have been formed in almost all regions of the country. Projects in the field of animal husbandry, crop production, as well as non-agricultural business in rural areas receive funding through the companies. Loans are provided long term. The maximum loan term is 9 years, and the average amount is 10 million tenge. Also the grace period is provided according to the business project.
Nurzhan SEISENBAYEV, DEPUTY CHAIRMAN OF AGRICULTURAL CREDIT CORPORATION JSC:
Over the entire period of functioning since 2001 to date, more than 174 billion tenge had been issued through the lending system. Over the last year, more than 28 billion tenge had been issued. Even just in the past six months of this year we issued about 14 billion tenge through the system of credit companies. But we are not limited to that. That is, those who don’t participate in credit unions can also apply to the Agricultural Credit Corporation for funding.