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The Corporation is increasing the volume of financing of credit partnerships

The Corporation is increasing the volume of financing of credit partnerships

More than 40% of the total financing of agricultural producers through the Agrarian Credit Corporation is issued through credit partnerships. Such data were announced in Aktau at the IV Forum of Credit Partnerships, organized by the Association of Credit Partnerships of the AIC and the Agrarian Credit Corporation.

The main priority for the country's financial sector should be lending to small and medium-sized businesses, including the development of entrepreneurial initiatives in the countryside. This was stated by the President of the country K. Tokayev at a meeting with representatives of leading financial and banking structures in November last year in Almaty.

- Support for small and medium-sized businesses is provided through the subsidiaries of the Baiterek Holding - the Damu Entrepreneurship Development Fund, Kazyna Capital Management and the Agrarian Credit Corporation. The Corporation has created an effective financing mechanism through the system of credit partnerships. Today, CTs operate in almost all districts and regions of Kazakhstan, their borrowers are more than 17 thousand entrepreneurs. The advantages of the CT system are their location in close proximity to agricultural producers, an established lending system, the interest of participants in the development of their region, said Niyaz Koshkimbaev, Managing Director of Baiterek National Managing Holding JSC.

Agrarian Credit Corporation today is the largest financial institution that provides affordable lending to agribusiness entities both through direct financing and through funding of financial institutions - credit partnerships, second-tier banks, microfinance organizations, leasing companies.
Last year, the Corporation allocated 109 billion tenge for lending to a network of credit partnerships, and 6.4 thousand projects were financed. Including for spring field and harvesting work under the Ken Dala program - 26.5 billion tenge, purchase of machinery and equipment - 29.6 billion tenge, purchase of farm animals - 35.7 billion tenge, other purposes - 18.1 billion tenge.

- In the first half of this year, about 7 thousand farmers received financing for 182.5 billion tenge. At the same time, 43% of the share of total financing, or 78.8 billion tenge, is occupied by a network of credit partnerships, the qualitative development of which is one of the key tasks and priorities of the Corporation. This year, the financing plan for CT is 129 billion tenge, next year we plan to issue up to 140 billion tenge, - said Almat Ashirbekov, Chairman of the Board of Agrarian Credit Corporation JSC.

There are three credit partnerships in Mangistau region. The leader is CT "Munaily Nesie", which includes more than 140 farmers. Since the beginning of the year, the partnership has lent 18 projects for a total amount of more than 344.3 million tenge.

- In Kazakhstan, there are 206 credit partnerships in 158 regions of the country, which unite 23.5 thousand agricultural producers. However, new times dictate new conditions, and therefore we will work to expand the potential of CT to finance small and micro businesses in rural areas and single-industry towns. This work includes the search for additional funding, the creation of an apex fund, as well as the optimization of processes in CT, - said Almira Sagatova, Chairman of the Board of the Association of Credit Partnerships of the APK.

During the IV Forum of Credit Partnerships, the most topical issues of interaction between the Corporation and credit partnerships, the strategy for improving and optimizing business processes are discussed. The Forum is attended by more than 140 heads of credit partnerships, leaders of credit cooperation of countries near and far abroad.