BISHKEK, Kyrgyzstan, August 29. An amount of 7,250 loans, totaling 3.257 billion soms ($36.9 million), have been provided to Kyrgyzstan’s farmers within the government’s agricultural financing project since the beginning of 2023, Trend reports.
According to the Ministry of Agriculture of the country, 5,226 loans were issued for the livestock sector, totaling 2.408 billion soms ($27.286 million).
Additionally, a total of 2,024 loans, amounting to 848.368 million soms ($9.6 million), were granted for crop farming.
These loans are provided by two state banks: Ayil Bank and RSK Bank. Both financial institutions have issued loans of approximately 1.6 billion soms ($18 million) each.
The objective of this project is to extend state support to entrepreneurial entities and individuals in Kyrgyzstan for the timely execution of agricultural field work in 2023 and further develop livestock and crop farming by ensuring accessible and favorable loans.
This project is funded by the national budget of Kyrgyzstan as well as resources from commercial banks. The implementation of the project began in February 2023, with a duration of 60 months.