KazAgro financed sowing campaign of farmers for 9.6 billion tenge
The sowing works in main grain-sowing regions of Kazakhstan are in active phase. At present, according to current information of “KazAgro” Holding” JSC for spring sowing and harvesting works in 2017 the applications were received from 1983 agricultural producers of the republic for 59.9 billion tenge and with planted area of more than 3.5 million ha. This sum includes and the funds of the budget loan in 60 billion tenge. Budget loan was received by subsidiary organization of the Holding, “Agrarian credit corporation” JSC.
The funds are given within three following directions:
-Funding of second-tier banks under 1% per annum. Final rate for agricultural producers is less than 5% per annum;
-Direct financing of ACC under 2% per annum, with provision of guarantee of bank as collateral.
-Financing through Credit cooperatives (CC) and microfinancial organizations (MFO) under 2% per annum, final rate for agricultural producers is less than 6% per annum.
Lending mechanism is synchronized with the State program for agribusiness complex development for 2017-2021. In order to stimulate diversification of planted areas and provide loading of processing enterprises the financing with priority is implemented for 11 priority crops (sunflower, rape, flax, soya, barley, sugar beet, rice, corn for feed, cotton, oat, potato).
Within financing of spring sowing and harvesting works under the line of “KazAgro” Holding”, the support of agricultural production cooperatives (APC) is continuing. Lending of such unions is carried out through second-tier banks (STB). Thus, from the funds of the Budget loan (60 billion tenge) to carry out spring sowing and harvesting works through STB, 9 APC were funded from five regions (Akmola, Karaganda, Pavlodar, and South-Kazakhstan, North-Kazakhstan) which unite 182 agricultural producers. For today, total funding sum for them is 9.6 billion tenge.
“Danilovka and Co” Ltd. is one of the farms sowing grain and oil crops as part of Agricultural production cooperative in Akmola region. Union of agricultural producers which includes the farm was financed under the line of “KazAgro” Holding through “Bank of Astana” JSC for 3 billion tenge. The APC involves 30 farms of the region with more than 200 thousand ha of planted area.
“Danilovka and Co” Ltd. according to its director Aibat Yesenturov is specialized on livestock and crop production. The farm already two years is a part of the cooperative and cultivates 9 thousand ha of planted area. It cultivates different crops of grain, oil, legumes and fodder. “Despite a short period in the cooperatives, we see many of its advantages. Thanks to the union we have received soft lending for two years already. The basic principle of cooperation, joint responsibility, develops in our farms cohesion, readiness to help colleagues for common purpose. All the members of the cooperative see perspective in the project and already make plans for further joint projects, for example we want on the basis of the union to organize machine-tractor station” says Aibat Abayevich.
It is significantly that Agricultural production cooperative in its activity started to attract agrarian science. In the past year, APC concluded a memorandum for selection work with Kokshetau state university named after Shokan Valikhanov.
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