Agricultural Development Fund to invest AC’s projects - KazAgro

During the visit Prime Minister of Hungary V. Orban signed an Agreement on the establishment of the Kazakh Agricultural Development Fund. The work on the Fund creation is conducted by the national holding "KazAgro" together with Export-Import Bank of Hungary in accordance with the instructions of Prime Minister of Kazakhstan Karim Massimov, the press service of KazAgro reported.
Astana city02 April , 10:46

"The purpose of the Fund is to invest in agriculture projects of Kazakhstan. The authorized capital of the Fund is 40 million dollars with the share of Holding "KazAgro" and the Hungarian side of 50%. Partner of Kazakhstan Holding will be Hungarian Export-Import Bank", the statement said.

The Fund will work to strengthen bilateral trade and cooperation between Kazakhstan and Hungary by means of a pilot project: create the first private equity fund in the agricultural sector; the creation of attractive benefit for investors; transfer of Hungarian knowledge of technology to Kazakhstan’s agricultural market; create a platform for attracting additional investment and improve multilateral cooperation.

This Fund will invest to Kazakhstan agriculture and food processing companies, leading its principal operations in Kazakhstan.

In June 2014 in Budapest, ”KazAgro” JSC and the Export-Import Bank of Hungary agreed to establish a joint Kazakh-Hungarian investment fund and signed a memorandum on cooperation.

At present, National Holding "KazAgro" is working with more than 10 Hungarian companies, which plans to invest in Kazakhstan agriculture. Within the Kazakh-Hungarian Business Forum, which was in Astana, Holding investment projects were presented for the Hungarian business community.