BAKU, Azerbaijan, May 16. John Deere, the world's largest manufacturer of agricultural machinery, will provide the concessional loan for the upgrade of agricultural machinery in Kyrgyzstan, said Minister of Agriculture of Kyrgyzstan Askarbek Dzhanybekov, Trend reports via Kyrgyz Media.
A memorandum was signed between the Ministry of Agriculture and the Ministry of Finance of Kyrgyzstan, Aiyl Bank, John Deere company and Eurasia Group as a part of a large-scale project to modernize agricultural machinery in Kyrgyzstan.
"Kyrgyzstan will receive a first installment of $8.5 million for purchase and modernization of agricultural machinery in the near future," the representative of Aiyl Bank said.
“We have set a goal of upgrading our agricultural equipment fleet by 10 percent by 2026, and the deal with John Deere is the first step in Kyrgyzstan's agricultural machinery modernization,” Dzhanybekov said.