BAKU, Azerbaijan, Feb. 14
Trend:
The development of Kazakhstan’s agro-industrial complex is of strategic importance, designed, first of all, to contribute to ensuring the food safety of the country, Trend reports with reference to Baiterek National Management Holding JSC.
The financing programs which are implemented by subsidiaries of Baiterek National Management Holding JSC, namely, Agrarian Credit Corporation JSC and KazAgroFinance JSC are the effective tools to support the agro-industrial complex.
The volume of financing for the agro-industrial complex through Agrarian Credit Corporation JSC and KazAgroFinance JSC exceeded 464 billion tenge ($1.07 million) in 2021. The funding increased by four percent compared to 2020.
About 23,000 businessmen were provided with funds in 2021. The borrowers belonging to the category of representatives of the small and medium-sized businesses received over 96 percent of funds.
The spring field and harvesting work was financed in the amount of 70 billion tenge ($162.2 million) as part of the Ken Dala target lending program. As a result, about 3.6 million hectares were sown.
The volume of financing for the purchase of agricultural machinery upon the KazAgroFinance JSC leasing programs exceeded 140 billion tenge $324.4 million (annual growth of 28 percent). Around 7,300 pieces of agricultural machinery were bought, which also exceeded the volume of leasing in 2020 – 6,000 pieces.
Some 46 projects worth 71.8 billion tenge ($166.4 million) with a loan amount of 53.8 billion tenge ($124.6 million) were financed to develop a competitive production base in the agricultural sector in 2021.
Around 43 projects worth 71.3 billion tenge ($165.2 million) with a loan amount of 53.1 billion tenge ($123 million) were implemented. The implemented projects are aimed at the production of main products, such as fruits, juices, meat and dairy products, vegetable oils, vegetables, etc.
The program of guaranteeing loans which are issued to the facilities of the agro-industrial sector by the second-tier banks, which contributes to the implementation of the investment projects if the borrower does not have collateral is being implemented. Seven guarantees worth 1.6 billion tenge ($3.7 million) were issued. As a result, the bank loans in the amount of more than 3.2 billion tenge ($7.4 million) were attracted to agriculture.
Baiterek National Management Holding completed the work on joining "Fund for Financial Support of Agriculture" JSC to the Agrarian Credit Corporation as part of the measures to optimize the organizational structure in 2021. As a result, the lending services are rendered to the farmers through a wide branch network on a "single window" basis.