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Kazakhstan’s agriculture subsidy plan draws thousands of applicants

Kazakhstan Materials 17 March 2023 17:08 (UTC +04:00)
Kazakhstan’s agriculture subsidy plan draws thousands of applicants
Emin Sevdimaliyev
Emin Sevdimaliyev
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BAKU, Azerbaijan, March 17. Kazakhstan’s agriculture subsidy attracted 4,391 applications for an overall sum of 24.5 billion Kazakh tenge ($53.45 million), Trend reports, citing the Ministry of Agriculture of Kazakhstan.

Some 270 have already been approved. Their overall value is estimated to be around 1.3 billion Kazakh tenge ($2.83 million). Meanwhile, 113 applications worth 796.1 million Kazakh tenge ($1.73 million) were rejected based on various criteria.

Local municipalities have outstanding loans worth around 26 billion Kazakh tenge ($56.7 million) on previous subsidy applications, which they have to honor before being able to allocate new subsidies to farmers and agricultural entrepreneurs.

The ministry notes, that outstanding loans worth around 7 billion Kazakh tenge ($15.27 million) have already been paid out.

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.

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