BAKU, Azerbaijan, February 21. Kazakhstan received investment requests from 14 projects for the allocation of 27.9 billion Kazakh tenge ($62.35 million), Yerbol Karashukeyev, Minister of Agriculture of Kazakhstan, said, Trend reports, citing the press service of the Ministry.
The said projects include dairy farms and poultry farms. The minister noted that successful implementation of the projects will boost the food production output, reduce the price volatility for the key food products, and assist the import substitution.
Additionally, Karashukeyev added that around 1.5 billion Kazakh tenge ($3.35 million) were allocated to Kazakhstan’s Jetysu region for the purpose of stimulating the development of small agricultural businesses in the region.
The minister noted that the allotted funds will be used to provide preferential microloans to small businesses. Currently, the rules and regulations for the allocation of microloans are being developed by Kazakh authorities.
Kazakh authorities are systematically developing rural areas in a bid to improve the living standards of the local population and utilize the unexplored potential of the regions. Rural development is one of the key priorities of the government. To achieve this goal, recently, Kazakhstan discussed the draft Concept for the development of the agro-industrial complex until 2030. The Concept was developed with the participation of government representatives, experts, and business leaders.
The document is expected to serve as a strategy for combating global challenges and potentially harmful global trends, which may harm the Kazakh agriculture sector.