Money became closer: the agricultural credit Corporation issued loans to Kazakhstani farmers for 148.4 billion tenge in six months

Agricultural credit Corporation in the first half of the year financed 4913 farmers for a total of 148.4 billion tenge. This is reported by the press service of ACC.

"Despite the pandemic, the financing of the agricultural sector is uninterrupted. In the first half of 2020, ACC customers purchased more than 145.2 thousand head of cattle, including: 38.5 thousand head of cattle, 84.3 thousand small cattle, more than 20.8 thousand horses, 1402 camels and 90 pigs. More than a thousand units of agricultural machinery and 312 units of equipment were also purchased. Loans in the amount of 98.1 billion rubles were issued to replenish working capital. tenge", - informed the Chairman of the ACC Board Baglan Kultayev and added that also, having received loans at a loyal interest rate, entrepreneurs build and modernize production facilities.

According to the Corporation, spring field work was financed in the amount of more than 81 billion tenge under the program "Ken Dala" and "Economy of simple things". More than 27 billion tenge were issued in the areas of the "Agribusiness" program. Cattle were purchased for 3.3 billion tenge under the Sybaga program, and almost 16.6 billion tenge were issued as loans under the Economy of simple things program. Loans under the Isker program, as the Corporation stressed, are popular among entrepreneurs from among socially vulnerable citizens, and loans worth more than 4 billion tenge have been issued to support them.

In addition, the press service emphasized that the ACC actively involves private financial institutions in financing the village. According to the results of the first half of the year, direct lending to JSC accounts for only 35%, the remaining 65% is implemented through funding tools of credit partnerships, second-tier banks, microfinance organizations, regional investment centers and leasing companies. This approach allowed farmers working even in remote villages to have access to credit. It also significantly helps to develop the SME segment in rural areas.

"Financing of agricultural producers gives a multiplicative economic effect in the regions. For example, the plant of Makai LLP for the production of vegetable oil and cake in Semey this year received a loan under the Agribusiness program to replenish working capital. With the allocated money, the company purchased sunflower seeds from local farms, resolving the issue of farmers selling oilseeds, and thus partially blocking the outflow of raw materials abroad. The plant also purchased additional equipment and special equipment. LLP successfully sells products on the local market and exports to China, Uzbekistan and Russia. The production cycle involves 60 employees who produce 50 tons of products per day, " the Corporation noted.

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