World Bank approves a US$500 million loan for livestock development in Kazakhstan

World Bank approves a US$500 million loan for livestock development in Kazakhstan

The World Bank Board of Executive Directors in Washington D.C. approved a US$500 million loan to finance a project that was developed for Kazakhstan, the press office of the Kazakh Ministry of Agriculture reported. The loan agreement will be signed this fall.

“The program developed by the bank should be implemented within five years from 2021 to 2025. During this period, Kazakhstan is obliged to develop and increase the export-oriented sector of livestock meat production without enhancing negative impact on the environment. The loan for the project implementation will be disbursed on the basis of Program-for-Results (PforR) – a completely new financing instrument for Kazakhstan that links the disbursement of funds directly to the achievement of specific program results. The money is paid to the borrower only when the agreed results are achieved. The stated key results of the project are the improvement of veterinary services and animal recording systems, scale up of a farmer-centric service delivery model, and an effective agri-environmental policy for the meat industry,” said Kazakh Ministry of Agriculture’s statement.

In addition, Kazakh Ministry of Agriculture plans to create more than 20,000 family farms with the allocated money. They will work in cooperation with feedlots.

 

Photo: kapital.kz