Baku, Azerbaijan, April 18
By Elena Kosolapova - Trend:
Kazakhstan will allocate 20 billion tenge (182.06 tenge = $1) to agriculture and livestock sector, Novosti-Kazakhstan reported with the reference to KazAgro Holding.
These funds were allocated from the national budget to increase authorized capital of Kazakh National Holding KazAgro with a consequent increase in the authorized capital of its subsidiary Agricultural Credit Corporation.
Agricultural Credit Corporation plans to direct 11 billion tenge from this sum to funding of agricultural producers in order to increase the production and processing of agricultural products and 9 billion tenge to livestock development.
The loans will be provided through the credit unions system.
This measure will ensure long-term preferential loans for rural entrepreneurs and allow them to produce and process agricultural products and purchase equipment and livestock.
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