Financing of spring-field works in 2018
In the current year for conducting spring and harvesting works 60 billion tenge were disbursed from the Republican budget. These financial resources are designed for crediting agricultural producers to fill working capital and for further financing of farmers for advanced purchasing of plant growing products to conduct spring and harvesting works. Financing is realized by three channels: second-tier banks, direct crediting, credit partnerships and microfinancial organizations. By all directions the annual effective interest rate does not exceed 6%.
Starting from December 2017 “Agrarian Credit Corporation” JSC began receiving applications from farmers for spring and harvesting works. At the present time to conduct spring and harvesting works farmers are actively taking credits by the proven program “Ken dala”. Nowadays, 247 agricultural producers gave applications for 29 billion tenge.
The Corporation is planning to cover needs in credits of 1 500 farmers to cultivate 3 million hectares of land till the end of 2018.