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Agricultural Credit Corporation took part in the exhibition "GREENHOUSES. VEGETABLE GROWSING AND IRRIGATION" in Almaty

The Agricultural Credit Corporation took part in the industry crop exhibition, which is taking place on the territory of the Atakent Center for Distribution Center in Almaty from April 19 to April 21, 2018. The head of ACC Narmukhan Sarybaev made a report on lending conditions in the context of the creation, expansion and modernization of greenhouse farms.

ACC provides lending to greenhouse farms within the framework of the Agroexport lending program for export-oriented investment projects, for which about 80 billion tenge was allocated. The Agroexport program is being implemented thanks to preferential conditions using attracted budget funds and funds from the Unified Pension Fund, which results in a remuneration rate of 8% per annum. A farmer can get a loan either directly from the ACC or from a credit partnership, a second-tier bank or a leasing company at 8% (for the purchase of fixed assets), at 11.28% (for replenishing working capital). The loan period is long - up to 10 years, and the grace period, after which the loan repayment begins, lasts up to 2 years.

Today, five large projects for the creation of greenhouses, financed by ACC, are successfully operating in Kazakhstan. Greenhouses are concentrated in the south of the country - in Zhambyl, South Kazakhstan and Almaty regions with a total area of 8.8 hectares with a total capacity of 4,450 tons.

According to Narmukhan. Sarybaeva, “lending to the greenhouse sector in crop production is one of the company’s priority activities; an impressive number of applications from Kazakh farmers aimed at creating modern and efficient greenhouses are currently being processed. Such activity of business entities in different regions of our country clearly reflects the trend towards reducing dependence on imported vegetables in the future.”