In Kazakhstan, budget lending continues to finance spring field work, reports the press service of Agrarian Credit Corporation JSC.

In 2023, 140 billion tenge were allocated from the Republican budget to finance spring field and harvesting work under the Ken Dala program. In just 9 days from the start of accepting applications, 1,211 applications worth 48 billion tenge have already been received from agricultural producers. Another 668 farmers are at the stage of collecting documents.

Most of the financing was provided through credit partnerships - 5.8 billion tenge. Farmers received 800 million tenge through microfinance organizations. Let us remind you that this year, in order to simplify and speed up obtaining loans, the Agricultural Credit Corporation has optimized the procedure by transferring financing to financial institutions, such as second-tier banks, CTs or MFOs.

These funds are used for the purchase of fuels and lubricants, spare parts and materials for the repair of agricultural machinery, the purchase of mineral fertilizers and plant protection products, the purchase of seed material and other activities for sowing and harvesting.

Financing is carried out only by funding credit partnerships, second-tier banks and microfinance organizations. The remuneration rate for agricultural entities will be no more than five percent per annum.

Let us remind you that for the first time since 2022, under the terms of the program, the loan period has been extended until the beginning of spring next year, whereas previously the loan terms were limited to the year of financing.

In addition, for the first time the southern regions received funding in December, and not in April as in previous years. The size of expenditure standards per 1 hectare has also been increased by an average of 25%.

You can get full advice on lending at branches of the Agrarian Credit Corporation located in regional centers and cities of republican significance or on the website www.agrocredit.kz.