History

"KazAgroGarant" JSC (earlier - "Fund of guaranteeing the fulfillment of obligations by grain receipts" JSC) (hereinafter - the Company) was established on June 23, 2003 in the form of a non-profit organization under the State agrarian-food program of the Republic of Kazakhstan for 2003-2005 in order to protect the interests of grain receipts holders from grain-enterprises not to execute the obligations by grain receipts issued by them.

The Company carries out its activities in accordance with the laws "On Grain", "On the development of the cotton industry", "On compulsory insurance in plant production", "Program of development of productive employment and mass business" and their resulting regulations of the Republic of Kazakhstan.

The main shareholder is "National Holding" KazAgro" JSC. Participation in Holding is built on a voluntary basis and is determined by the conditions of the concluded contract of participation.

The introduction in Kazakhstan of a system for guaranteeing the fulfillment of obligations on grain receipts in Kazakhstan represented by KazAgroGarant JSC significantly changed the procedure for the sale of grain and created the prerequisites for improving the investment climate in agriculture.

Given the positive experience of introduction of the system of grain receipts and guarantees in the country, the system of grain receipts and guarantees introduced since 2008 by law of the Republic of Kazakhstan "On development of cotton industry".

On December 29, 2016, the Government of the Republic of Kazakhstan approved a state "Program of development of productive employment and mass business". KazAgroGarant JSC participates in the second direction of the Program, namely, in terms of guaranteeing loans / microcredits in rural areas and small towns, which are aimed at opening start-ups to start-ups, as well as expanding the existing business.

In order to protect the property interests of agricultural producers, who grow certain types of grain and oilseeds, as well as cotton and sugar beet from the effects of adverse natural phenomena, in 2004 the Law "On Compulsory Insurance in Plant Production" was adopted in Kazakhstan.

In accordance with the Law, after carrying out the sowing of the aforementioned crops, the farmer is obliged to insure them in the insurance company or in the mutual insurance society. In the event of an insured event, after a number of procedures, the insurance company / OVS compensates the farmer for the damage in full. Then 50% of these payments are paid to the insurance company / OVS from budgetary funds through the Budget Management Agent, and this is the state support for compulsory insurance in crop production.

From 2004 to 2012, the functions of the Agent were performed by the JSC "Fund for Financial Support of Agriculture", since July 2012 this activity was carried out by Kazagromarketing JSC.

On September 6, 2017, an Agreement was signed on the change of persons in rights and obligations, according to which the functions of the Agent for managing budget funds allocated to support compulsory insurance in crop production moved from JSC Kazagromarketing to JSC KazAgroGarant.

Representatives of "KazAgroGarant" JSC will henceforth be part of the commission, which will carry out visits to the fields of peasants to determine the area and degree of loss of crops as a result of adverse natural phenomena.