KazAgro financed sowing 2014 through second tier banks - Aituganov

14 August, 2014 17:46

"This year "KazAgro" Hoding financed the sowing campaing through the second tier banks to the amount of 20 billion tenge," Deputy Chairman of Board of "KazAgro" Holding K. Aituganov has informed during the meeting on preparedness to harvesting time.

"As of August 14, a group of holding companies in support of the spring sowing and harvesting 2014 approved 3,577 applications valued at $ 30.1 billion. tenge, including already financed 3,504 applications for 29.2 billion. tenge. For comparison, last year's total was funded 3,065 applications for 53.7 billion tenge," K. Aituganov informed.

According to him, it had happned due to Holding's great attention to development of small and medium farmiongs.

Thus, disbursement of the loan due to the budget was 39 billion 97.5% of the plan, including: Agricultural Credit Corporation- 5,5 billion tenge (100%), the Food Corporation - 13 billion tenge (93%), Fund for Financial Support of Agriculture - 0 5 billion tenge (100%), second-tier banks - 20 billion tenge.

This year, for the first time due to budgetary loan "KazAgro" Holding funded the sowing campaign to the amount 20 billion dollars through such second-tier banks as Tsesna Bank, Delta Bank, Euraisna Development Bank and Astana Bank. A new source of loan was launched in accordance with "Agribusiness 2020 Program in order to expand access to finance for the villagers.

Madina Nurbekova

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