Kazagromarketing - operator for financial rehabilitation of agribusiness entities
From August 2013 Kazagromarketing is the operator for financial rehabilitation of agribusiness entities. The main functions of Kazagromarketing as an operator are:
- Acceptance of documents from financial institutions;
- Convening and conduct of meetings of the Commission on financial rehabilitation;
- Contracts subsidy;
- Accepting applications of financial institutions for the transfer of subsidies;
- Monitoring reports provided by financial institutions;
- Monitoring compliance with the terms of the Rules of borrowers.
What is the essence of financial recovery of agribusiness entities?
Essence of the measures is reduction of credit loans of agribusiness entities that they made for their business development or acquisition of special machines and equipment, 7% in tenge and by 5% in foreign currency. As part of the financial recovery also it prolongs up to 9 years loan repayment period and deducted interest and penalties.
In the financial recovery of entities may participate agribusiness, received loans of up to 1 January 2014.
In order to make use of this measure of government support, you must apply to the financial institution, which received a loan. Financial institutions are the second-tier banks, credit organizations licensed to conduct banking activities, as well as credit unions in the agricultural sector.