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Kazakhstan to introduce subsidized loans for buying agricultural machinery

Kazakhstan Materials 14 July 2022 09:54 (UTC +04:00)
Kazakhstan to introduce subsidized loans for buying agricultural machinery
Nargiz Sadikhova
Nargiz Sadikhova
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BAKU, Azerbaijan, July 14. President of Kazakhstan Kassym-Jomart Tokayev instructed to introduce a mechanism for repayable lending in order to purchase locally produced agricultural machinery, at an expanded government meeting, Trend reports.

"Medium-Term Food Security Plan was developed on my instructions, but we see only a set of good aspirations instead of a specific algorithm of actions in this plan," Tokayev said.

According to him, it is also necessary to further consider the matter of mass renewal of the agricultural machinery fleet.

"Usage of all possible sources of financing is very important. I am instructing to introduce a mechanism for repayable lending in order to purchase domestic agricultural equipment financed through ROP Operator LLP. It is impossible to talk about ensuring food security without a developed agro-industrial complex. This is an axiom," Tokayev noted.

He also added that crop yields in Kazakhstan lag far behind global indicators.

"We are highly dependent on imported seeds. The government should develop primary seed production on the basis of pilot farms," ​​Tokayev said.

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