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Kyrgyzstan reveals data on loans provided to farmers under state program

Kyrgyzstan Materials 23 October 2023 10:13 (UTC +04:00)
Abdullo Janob
Abdullo Janob
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BISHKEK, Kyrgyzstan, October 23. Farmers in Kyrgyzstan have been provided with nearly 3.3 billion soms ($36.9 million) in loans as of October 19, 2023, through the government's agricultural financing project, Trend reports.

According to the country’s Ministry of Agriculture, in horticulture, a total of 2,070 loans were granted, amounting to 868 million soms ($9.7 million). The "Aiyl Bank" issued approximately 1,106 loans totaling 474 million soms ($5.3 million), while the "RSK Bank" granted 964 loans worth 394 million soms ($4.4 million).

Additionally, in the livestock category, around 5,236 loans were issued, totaling 2.4 billion soms ($26.8 million). The "Aiyl Bank" provided 2,502 loans amounting to 1.17 billion soms ($13 million), and the "RSK Bank" extended 2,734 loans worth 1.23 billion soms ($13.7 million).

In total, 7,306 loans were granted in these two categories, with the "Aiyl Bank" issuing 3,608 loans for 1.65 billion soms ($18.4 million) and the "RSK Bank" granting 3,698 loans worth 1.63 billion soms ($18.2 million).

The objective of this government's project is to offer state support to businesses and individuals in Kyrgyzstan, facilitating timely agricultural activities in 2023. It aims to promote both livestock and crop farming by providing accessible and favorable loans.

The project is funded by the Kyrgyzstan national budget and resources from commercial banks. Implementation began in February 2023 and is planned to continue for 60 months.

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