The Agrarian Credit Corporation continues to finance agricultural producers and subjects of the agro-industrial complex for spring field and harvesting work under the Ken Dala program. In addition to the previously planned 70 billion tenge, another 70 billion tenge will be allocated additionally.

As the Head of State K. Tokayev noted in his Address to the people of Kazakhstan "New Kazakhstan: the path of renewal and modernization" in March 2022, in the current extremely unstable international situation, ensuring the country's food security is of great importance. The quality of the sowing campaign comes to the fore, the main issue of which is to provide crop growers with credit funds.

Traditionally, the Corporation finances farmers for spring field and harvesting work in the amount of 70 billion tenge by attracting a short-term budget loan.

This year, 3,111 applications worth 90.7 billion tenge have already been received from agricultural producers, of which more than 2 thousand borrowers have been financed for 64.1 billion tenge, more than 500 farmers are planned to be credited for the remaining amount of financing by April 15.

At the same time, taking into account the volume of applications received from agricultural producers, the current macroeconomic situation, the increase in the cost of farmers' expenses for the sowing campaign, the Agrarian Credit Corporation is actively working to attract additional budgetary funds in the amount of 70 billion tenge. Thus, the corresponding changes and additions to the republican budget for 2022-2024 have been initiated, the approximate date for receipt of funds is May of this year.

Taking into account the urgent need for timely sowing, the Corporation, before the receipt of funds from the budget loan, switches to lending to farmers at the expense of its own and borrowed funds, followed by their replacement with budget loan funds.

Lending is carried out through 17 branches located in all regional centers and cities of republican significance, as well as through funding of credit partnerships, second-tier banks and microfinance organizations.

Reference:

JSC "Agrarian Credit Corporation" is a part of the National Managing Holding "Baiterek". The work of the corporation is aimed at promoting the sustainable development of the agro-industrial complex of the republic by creating an affordable and efficient financing system through the involvement of private financial institutions and increasing the competencies of agribusiness entities.