Fund for financial support of agriculture gave more than 10 thousand loans for 39 billion tenge

Fund for financial support of agriculture implements microlending of agricultural entrepreneurship from own funds, as well as from the funds attracted within the Program for development of productive employment and mass entrepreneurship for 2017-2021 (hereinafter – the Program).
        - For 9 months of the current year the Fund has given more than 10 thousand loans for total sum of 39 billion tenge, - says the Chairman of the Executive Board of “Fund for financial support of agriculture” JSC Zhandar Omarov. – In whole, it is planning till the year end to direct 41 billion tenge to rural microlending. The conditions are efficient to the maximum extent for participants: till 6.5 year, fee rate – not more than % per annum. There is a grace period till one third of the lending period.
       In 2017 for microlending of rural entrepreneurship 16.5 billion tenge were directed through the Fund within the Program, of which as of today 15.7 billion tenge are given. Another 24.5 billion tenge were allocated from the funds of the republican budget and own funds of the Fund. In whole in the current year the amount for financing the projects of rural population and agricultural producers will comprise 41 billion tenge that is 6 billion more than in the past year.
        Financing of agricultural cooperatives and their members is in its active phase. The loans are given under lending products Yntymak – for development of cooperatives for procurement and sale of meat, dairy, fruit and vegetable products and forage; Bereke – for establishment of family feedlots; Igilik – for lending of purchase and breeding of agricultural animals and poultry; Yrys – for establishment of family dairy-commodity farms. For these directions the cooperatives and their members were given 20 billion tenge.
       Nurtas Bolatuyly – the head of “Nur-Naz Bereke” agricultural cooperative from Abay district of East-Kazakhstan region. The cooperative was established in June of the current year and joined 38 participants. From this moment the financing of the cooperative’s members started. Main activity is beef farming. As of today 30 participants already has received loans under Bereke program for total sum of 76.4 million tenge and purchased 382 heads of cattle. Now total number of head of the cooperative exceeds 430 heads of cattle.
      - Small farms of our village which are the part of the cooperative had in total 50 heads of cattle only. During the short period of time we got loans and purchased cattle and increased total number of heads in more than 8 times, - says Nurtas Bolatuly. Such conditions as in the Fund exist nowhere else. Particularly for us, rural population. We thank the Head of the State, the Fund for such possibility to develop small farms, get stable income, support our families and develop rural infrastructure. In future we plan to purchase for the cooperative a module slaughtering point and refrigerator to supply meat to the city. Soon we are starting the slaughtering of cattle, we have agreements with “Severniy” market in Semey city for meat selling.
         As of today the Fund has drawn almost all the assets allocated under the Program for development of productive employment and mass entrepreneurship – 95%. Applications for the rest 4% are registrating.


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