03.07.2020
1 min
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The World Bank will issue a $500 million loan to Kazakhstan to develop beef exports

The World Bank will issue a $500 million loan to Kazakhstan to develop beef exports

The Board of Directors of the World Bank approved a $500 million loan to Kazakhstan for the Sustainable Livestock Development Programme. Its goal is to support the development of environmentally sustainable, inclusive and competitive beef production. This was reported in the WB representative office in Kazakhstan.

"The five-year Program for Sustainable Livestock Sector Development (2021-2025) is financed by a $500 million loan of the International Bank for Reconstruction and Development, with the use of the financial instrument "Program-for-Results" (PforR), directly linking the allocation of funds with the achievement of specific program results," is noted in the message of the World Bank.

The share of government spending on sustainable beef production and processing is expected to increase by 10% over the next five years, and the value of beef exports is expected to increase threefold. In addition, about 20,000 small and medium farms will become full participants in export value chains.

Given the expansion of the raw material base and geographical proximity to important markets, the program will also help attract private investment in the development of meat processing, packaging and logistics companies.

According to the WB, the program will promote environmentally friendly growth and sustainable policies aimed at applying environmentally friendly cattle breeding methods, reducing greenhouse gas emissions, and improving the overall agro-ecological measures of government programs to support the beef production sector.

"We are very pleased to support Kazakhstan in developing an export-oriented, high value-added sector of beef production. Kazakhstan has great natural potential and a favorable geographic location, which contributes to the development of an export-oriented sector of beef production. The program is designed to contribute to the long-term goals of economic development in Kazakhstan, namely export diversification and improved living conditions in rural areas. The program can also respond to the employment challenges posed by the coronavirus pandemic," said Jean-Francois Marto, the World Bank's Permanent Representative to Kazakhstan.

According to the World Bank, funding will be used to support the State Program for Development of the Agro-Industrial Complex of Kazakhstan in the field of improving veterinary services and animal registration systems, expanding the model of services aimed at farmers, and improving agro-ecological policy in this sector.

It should be noted that the Vice-Minister of Agriculture of Kazakhstan Gulmira Isayeva praised the decision of the World Bank's Board of Directors made the day before in Washington, commenting on her Facebook page.

Source: eldala.kz