Admission of applications for funding of spring field work has started

140 billion tenge is allocated from the national budget to finance the spring field work in 2023. Lending is carried out by Agrarian Credit Corporation JSC (ACC). Reception of applications in the branches of ACC from the subjects of agro-industrial complex began in January of this year, reports World of NAN.

As it was reminded in press-service of Ministry of Agriculture, total amount of financing will be sent to ACC by two tranches of 70 billion tenge each. The first tranche has already been transferred, and the second tranche will be sent in February.

The funding is done by direct lending to AIC subjects, and also through funding of credit partnerships, second-tier banks and microfinancial organizations. The rate of interest for the subjects of agriculture will be: in direct lending under a bank guarantee - no more than 1.5% per annum; in funding by credit partnerships, microfinance institutions, second-tier banks - no more than 5% per annum.

In 2023, under the terms of the program lending period was extended until the beginning of spring of the next year, whereas previously the term of lending was limited to a year of financing.

It is planned to cover at least 2 million hectares of crops at the expense of budget financing.

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