The Agrarian Credit Corporation continues to finance agricultural producers and subjects of the agro-industrial complex for spring field and harvesting work within the framework of the Ken Dala program. A total of 140 billion tenge will be allocated for these purposes this year.

The first tranche from the republican budget - 70 billion tenge - has already been transferred to the Corporation’s account.

Lending is carried out by funding credit partnerships, second-tier banks and microfinance organizations. Domestic farmers will be able to receive preferential loans for organizing sowing and harvesting from the listed organizations operating in the regions.

The loan term under the “Ken Dala” program is until March 1 of the following year. Lending to financial organizations is carried out at an interest rate of 1.5% per annum, the effective interest rate in this case is from 1.5% per annum. Farms, in turn, will be able to obtain loans from financial institutions at a rate of up to 5% per annum.

Let us note that the terms of the program retain the innovations introduced last year: for example, if previously the loan terms were limited to the year of financing, now an extended loan period has been established until the beginning of spring next year.

For reference:

Agricultural Credit Corporation JSC is part of Baiterek National Management Holding JSC. Since 2001, the corporation has been providing preferential lending to agricultural producers and entrepreneurs. Full information about lending programs is on the website agrocredit.kz.

photo syngenta.ca