KazAgro holds in Kazakhstan's regions conferences on prospects of development of rural credit unions

Currently there are about 170 credit unions in Kazakhstan that combine about 11 thousand rural producers, "KazAgro" informed.
Kazakhstan30 April , 12:54

"Credit unions begun to be established since 2001 with the support of "Agrarian Credit Corporation" JSC on providing the rural producers with cheap credit resources in the rural areas of the country. 82% of them refer to the category of farms, 10% - to LLP, and 8% - to the category of other organizations (JSC, producers’ cooperative, individual enterprise, and so on", the message reads.

In recent years, the volume of annual lending by the credit unions on the side of the Corporation has a tendency to sustained growth.

However, according to KazAgro, today’s the credit unions has come to a landmark turning point in its history. The fact that the Corporation came out from the membership of all rural credit unions. So now the credit unions are completely private entities.

In addition, in order to increase the competence of workers of the credit unions and their prepare for work in new conditions the Association of credit unions of agriculture together with "KazAgro" and the Corporation realized the project "Improving staff’s skills of rural credit unions".

The main objective of the project is the strengthening of the role of credit unions in the lending of rural producers through the active use of the proposed state and the market of financial instruments.

The project will be a 10-day training courses for employees of the credit unions and regional conference "State and prospects of development of the credit unions" in 12 regions of the country.