ALMATY, Mar 5 (NNN-KTA) – The government of Kazakhstan will provide 700 billion tenge (about 1.4 billion U.S. dollars) in easy-term loans this year, to finance sowing operations, Minister of Agriculture, Aidarbek Saparov, announced at a government meeting, the government’s press service said, yesterday.
“The volume of easy-term lending for spring fieldwork will total 700 billion tenge. More than 1,800 agricultural producers have already received funding amounting to 206 billion tenge (about 412 million U.S. dollars),” Saparov said.
According to the minister, this will ensure coverage of at least eight million hectares of sown areas.
This year, easy-term loans for agricultural producers are offered at a net interest rate of five percent per year, eliminating the need for subsidy applications, the minister noted.
The government will also continue the loan guarantee programme, under which agricultural producers are required to provide collateral for only 15 percent of the loan amount, Saparov added.– NNN-KTA
