The international rating agency Fitch Ratings confirmed the long-term issuer ratings of the Agrarian Credit Corporation in foreign and national currencies at the level of "BBB-", forecast "Stable". The Agrarian Credit Corporation is part of Baiterek NMH JSC. The corporation provides loans to the agricultural sector on favorable terms: low interest rates and long terms. Thus, it helps to ensure food security in the Republic of Kazakhstan and increase the country’s export potential. The company's loan portfolio increased by almost 25 percent and reached 449.2 billion tenge in 2020. ACC products are in demand among agricultural producers. Moreover, the majority of the portfolio consists of loans aimed at developing the SME segment in rural areas, their share is about 65 percent. It is worth noting that at the end of last year, ACC’s net profit amounted to 19.7 billion tenge. ACC's main clients are located in remote rural areas. In order to expand the coverage of agricultural entities with credit funds, the corporation uses various financial instruments: direct lending and funding of financial institutions, such as credit partnerships, microfinance organizations, second-tier banks and leasing companies. In 2021, it is planned to allocate 251.9 billion tenge in the form of preferential loans for the development of the agricultural industry. To date, from the above amount, ACC has financed more than 6.7 thousand entrepreneurs for a total amount of more than 196 billion tenge. The priority areas for ACC financing are projects in the field of crop production, livestock breeding and agricultural processing. Also, special attention is paid to the implementation of large investment projects in the agricultural sector, including poultry farms, breeding reproducers, greenhouses, dairy farms, intensive gardens, meat processing complexes and others. By the way, this year alone the corporation has already financed 21 investment projects. All this together affects the increase in the competitiveness of Kazakhstani products and import substitution. Since last year, 70 billion tenge have been allocated for spring field and harvesting work. The operator for the distribution of the budget loan is ACC. Funding for the sowing and harvesting campaign this year covered 2,617 agricultural enterprises, which carried out work on 3.3 million hectares of cultivated area. ACC lending programs are aimed at supporting agriculture as a strategic sector of the country's economy and have a social orientation, focused on raising the level of well-being of citizens.
