Sberbank will open a credit line to Green Capital Kazakhstan LLP in the amount of over 5.1 billion tenge as part of the Agroexport lending program of Agricultural Credit Corporation JSC. The export insurance company “KazakhExport” will provide support in the form of insurance protection under this credit line.

“Sberbank actively takes part in financing projects aimed at exporting goods and products produced in the territory of the Republic of Kazakhstan. “Green Capital Kazakhstan” LLP will subsequently place products in the largest retail chains of the Russian Federation, such as the Lenta hypermarket chain, says Eldar Tenizbaev, Deputy Chairman of the Board of SB Sberbank JSC.

The large-scale agricultural project includes the purchase, supply and turnkey installation of a greenhouse complex from one of the world leaders in this industry - KUBO Greenhouse Projects B.V. (Netherlands), with a total area of 6.7 hectares. The project plans to create 60 jobs.

“This project demonstrates our willingness to take on credit risks for export-oriented projects. If the portfolios of second-tier banks are constantly replenished with similar investment projects using advanced technologies, this will accelerate the change in the structure of Kazakhstan’s exports towards an increase in the share of finished products,” commented Ruslan Iskakov, Chairman of the Board of ESK KazakhExport JSC.

As noted by the Chairman of the Board of Agrarian Credit Corporation JSC Narmukhan Sarybaev, “the opening of a credit line through funding with an insurance guarantee with the subsequent export of domestic products reflects the effectiveness of the collaboration of three financial institutions in the implementation of an export-oriented state program.”

Green Capital Kazakhstan LLP promises to become one of the largest investment projects, using fifth-generation Ultra Clima technologies, with high productivity and economic profitability.

The planned production and sales volume of the greenhouse complex will be, on average, 4,000 tons of tomatoes per year. Over the first seven years of project implementation, it is planned to pay more than 460 million tenge to the budget of Kazakhstan.