Farmers have applied for 48 billion tenge for financing of spring field work

In Kazakhstan, the budgetary credit to finance the spring field work continues. In just nine days since the start of the application process, 1,211 applications for 48 billion tenge have already been received from agricultural producers, the World of NAN reports.

In 2023, 140 billion tenge is allocated from the national budget to finance the spring field and harvest work under the program "Ken Dala". In only 9 days since the start of the application process, there have been 1,211 applications from agricultural producers for 48 billion tenge. Another 668 agrarians are at the stage of collecting documents.

Most of the funding has been disbursed through credit partnerships - 5.8 billion tenge. 800 million tenge farmers have received through microfinance organizations. To recall, this year in order to simplify and accelerate the receipt of credit, Agrarian Credit Corporation has optimized the procedure by transferring funding to financial institutions, such as second-tier banks, CP or MFO.

These funds are used for the purchase of fuel and lubricants, spare parts and materials for repair of agricultural machinery, purchase of mineral fertilizers and plant protection products, for the purchase of seed material and other activities for sowing and harvesting.

Funding is provided only through the funding of credit partnerships, second-tier banks and microfinance institutions. The rate of remuneration for subjects of agroindustrial complex will make no more than five percent per annum.

To remind, for the first time since 2022 under the terms of the program the term of crediting is extended to the beginning of spring of the next year, whereas previously the term of crediting was limited to one year of financing.

In addition, for the first time the southern regions received funding in December, not April as it was in previous years. Also the size of norms of expenses per 1 hectare was increased on average by 25%.

You can get full consultation on crediting in the branches of Agrarian Credit Corporation located in the regional centers and towns of national importance or at the website www.agrocredit.kz.

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