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Entrepreneurs of Kazakhstan received loans totaling 148.4 billion tenge

Entrepreneurs of Kazakhstan received loans totaling 148.4 billion tenge

The agricultural credit Corporation financed more than 4,900 agricultural producers in the first half of the year.

Thanks to state support measures through concessional lending programs, 12,571 existing jobs were financed and 3,798 new jobs were created in the country.

Having received loans from JSC "agricultural credit Corporation" NUH "KazAgro" at a loyal interest rate, entrepreneurs purchased livestock, agricultural machinery, equipment, replenished working capital, build and modernize production facilities. This was reported by the press service of JSC "agrarian credit Corporation".

"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 tenge were issued to replenish working capital", - Chairman of the Board of JSC "agrarian credit Corporation" Baglan KULTAYEV specified.

Lending programs and financing of the agricultural sector are in high demand among rural entrepreneurs. Thus, spring field work was financed in the amount of more than 81 billion tenge under the"Ken Dala" and "Economy of simple things" programs, more than 27 billion tenge was issued under the "Agribusiness" program, 3.3 billion tenge was purchased for livestock under the "Sybaga" program, almost 16.6 billion tenge was issued as loans under the "EPV" program. Loans of the "Isker" program are also popular among entrepreneurs from among socially vulnerable citizens, loans worth more than 4 billion tenge have been issued to support them.

It should be noted that the ACC actively involves private financial institutions in financing the village. Thus, in the first half of the year, direct lending to the company accounts for only 35%, while the remaining 65% is implemented through funding instruments of credit partnerships, STBs, MFIs, RIC 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, of course, gives a multiplicative economic effect in the regions. For example, the Makai LLP plant for the production of vegetable oil and cake in Semey. This year, the company 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.