Lending to agro-industrial complex in Kazakhstan decreases

Business Materials 28 March 2019 14:45 (UTC +04:00)

Baku, Azerbaijan, Mar. 28

By Rashid Shirinov – Trend:

Lending to agriculture, forestry and fisheries of Kazakhstan in January 2019 amounted to 227.5 billion tenge, which is 66.6 percent less year-on-year, Trend reports via Ranking.kz.

Loans to crop and animal production made up 225.5 billion tenge (66.8 percent down), fisheries – 1.4 billion tenge (37.8 percent down), and forestry — 651 million tenge (5.2 percent down).

Nevertheless, agro-industrial complex is considered one of the priority spheres for credit support in Kazakhstan. Agriculture Minister Saparkhan Omarov has earlier said that 200 billion tenge was allocated for lending the agro-industrial sector, half of which will be directed to lending agricultural processing projects, and the second half — to agricultural production, which serves as raw materials for the food and other processing industries.

Despite the decline in agricultural lending in the country, in 6 of the 17 regions of Kazakhstan the amount of loans allocated to support the agro-industrial complex has increased.

The Aktobe region is the leader with the annual growth of 2.7 times, to 7.6 billion tenge, followed by the Kyzylorda region with almost a double increase, to 1.2 billion tenge, and the Almaty region with the growth of 40.1 percent, to 5.8 billion tenge.

(378.36 KZT = 1 USD on Mar. 28)


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