Investments into Kazakhstan's animal husbandry increase by nearly 40%
BAKU, Azerbaijan, Nov.12
By Nargiz Sadikhova - Trend:
Value of investments into Kazakhstan’s animal husbandry amounted to 379.4 billion tenge ($974.8 million) during 10 months of 2019, which is 37 percent more than the same period last year, Kazakhstan’s Minister of Agriculture Saparkhan Omarov said, Trend reports with reference to the press office of Kazakh prime minister.
He noted that the growth was achieved due to the loan products of KazAgro Holding.
Thus, during 10 months of this year, lending increased by 32 percent compared to the same period last year and amounted to 362 billion tenge ($930.1 million).
Furthermore, agreements for the leasing of 5,531 units of agricultural machinery and equipment worth 90 billion tenge ($231.2 million) were signed, which is 57 percent more than the corresponding period last year.
Currently, about 30 large investment projects with foreign investors worth over $3 billion are being implemented in the country’s animal husbandry.
Project funding is provided both at the expense of investors' own funds and with the attraction of funds from second-tier banks and subsidiaries of KazAgro Holding.
KazAgro Holding is aiming at implementation of the state policy to stimulate development of agribusiness complex of the Republic of Kazakhstan through ensuring effective management of investment assets and development of corporate culture of joint stock companies implementing their activities in agribusiness complex, which shares are given to it for payment of placed shares.
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