Credits for 1.3 billion KZT allocated under Sybaga program in Kazakhstan
Baku, Azerbaijan, Feb. 7
Kazakhstan’s Fund of Financial Support for Agriculture continues accepting loan applications for the Sybaga program. In January, the fund approved 42 applications for the purchase of more than 1,200 heads of cattle and 3,200 heads of goats worth a total of 1.3 billion Kazakh tenges (KZT), Trend reports referring to Kapital.kz.
The livestock farming development program was developed by the Ministry of Agriculture last year, with its main objectives provides being the growth and improvement of the quality characteristics of the cattle and goat population and an increase in the volumes of export of Kazakhstan’s meat. One of the financial operators is the JSC Fund of Financial Support for Agriculture, which implements the Sybaga program.
Under the terms of the program, loans are granted for the purchase of breeding stock of cattle and goats for the reproduction of young beef breed, the purchase of fixed assets and the replenishment of working capital. As such, the farms update the machine-tractor fleet, purchase the necessary equipment and harvest food.
Thus, the task set by the Kazakh Head of State Nursultan Nazarbayev to revive the livestock industry, to increase the labor productivity and export volume of processed products by 2.5 times over 5 years is being completed.
“Last year, the Fund of Financial Support for Agriculture financed 679 applications worth 15.6 billion KZT. The allocated funds were directed to the purchase of 23,800 heads of pedigree cattle and 75,400 heads of goats. As of today, 9,300 heads of cattle have been delivered to Kazakhstan’s farms,” said Gerard Baal, director of the lending department at JSC Fund of Financial Support for Agriculture.