Baku, Azerbaijan, June 12
By Anvar Mammadov - Trend:
KazakhExport and the Agricultural Credit Corporation (ACC) will jointly guarantee farmers' loans, the ACC said in a statement released on June 11.
The joint-stock companies "Export Insurance Company "KazakhExport"” and "Agricultural Credit Corporation" have signed joint regulations on consideration and financing of applications for feedlots with insurance protection.
The message says thanks to the new regulations, and according to the terms of financing by working capital of the feedlot projects, borrowers of the Agricultural Credit Corporation will be able to use KazakhExport insurance as collateral in the amount of up to 90 percent of the loan amount.
According to the signed regulations, the terms of consideration of applications for financing will be significantly reduced, the stages of project examination and assessment of borrowers' reliability will be simplified, on the basis of which the ACC will make a decision on granting a loan.
"After that, the ACC will provide the insurer (KazakhExport) with the documents necessary for making a decision regarding giving the insurance protection to the client for the implementation of the project," the message says.