A bank ready to finance farmers has surfaced

Preferential loan up to 6%, Halyk Bank is ready to participate in co-financing agro-industrial projects together with the government and Baiterek Holding when allocating state subsidies to agrarians, World of NAN reports citing the government.

The common solution is a final rate of interest for agrarians not exceeding 6% and continuous financing of projects that meet the requirements of the state's agricultural development policy.

"Preferential financing of the state will primarily support projects for the construction of dairy farms, vegetable storage facilities, development of livestock breeding, irrigation, processing of cereals, meat, fruits and vegetables," said Deputy Prime Minister Serik Zhumangarin.

According to the Ministry of Agriculture, a pool of 500 potential processing projects in the agro-industrial complex with a total value of 1.6 trillion tenge has been formed. Each project applying for preferential financing will go through the filter of many criteria, including the business sustainability of the borrower's enterprise model and its business reputation.

The pool is not final and will be replenished with new promising projects in order to achieve the main goals for the next three years - to increase the volume of gross agricultural production by 2.6 trillion tenge and the volume of processed products in the agricultural sector from 30% to 70%.

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