Kazakh farmers to receive state loans for equipment purchases

Kazakhstan Materials 8 February 2016 11:20 (UTC +04:00)

Baku, Azerbaijan, Feb. 8

By Elena Kosolapova - Trend:

KazAgroFinance Kazakh state company has started to accept applications from farmers for the purchase of agricultural machinery for spring field work in 2016, the company said Feb. 8.

"The overall financing rate amounts to 14 percent without the need for additional security, the grace period is one year," said the message.

In addition, in the near future it is expected to launch the next phase of interest rate's financing within the framework of the "Agrobusiness-2020" Program for development of agro-industrial complex for 2013-2020.

In 2015, KazAgroFinance financed the purchase of 1,382 units of equipment worth more than 11.5 billion tenges (the rate for February 8 is 363.72 tenge/$1) within the framework of preparation for the spring field work.