The task of increasing the availability of financing for the subjects of agricultural sector is solved by financing within the existing programs of the structures of “KazAgro” National Holding, as well as through funding of regulated banks, credit cooperatives, microlenders and leasing companies for further financing of the subjects of agricultural sector.
The funding allocation of the industry amounted to 400 billion tenge last year, it is an unprecedented amount for all years of Holding’s existence and its subsidiaries and exceeds the level of 2017 by 50% (266.7 billion tenge). 96 % (or 385 billion tenge) of this amount is directed to loans and leasing (the share of long-term loans is 90%).
About 20 thousand loans were issued, over 11 thousand new workspaces were created and more than 56 thousand people were provided with employment. It was said by Asylkhan Dzhuvashev, the Managing director for assets and investments of “KazAgro” Holding” JSC, during the official meeting on equal terms of the Mazhilis of the Parliament of the Republic of Kazakhstan on the subject: “Topical issues of increasing the availability of financing for the subjects of agricultural sector”, which was held on April 18, 2019.
Against the background of a decline in banks’ interest to agriculture financing, the Holding actively expanded the access channels to financial services through private financial institutions, which are credit cooperatives, microlenders, regulated banks and leasing companies. The amount of financing through their funding increased to 132 billion tenge, or almost 48% of the previous period amount, which is more than 34% of the total amount of financing by the Holding of agricultural sector, the representative of “KazAgro” noted.
Today, there is a growing demand from farmers for the tools offered by the Holding at the lending market.
During the official meeting on equal terms, some problems are identified that require solutions and assistance from the deputies of the Mazhilis of the Republic of Kazakhstan, for which the ways of solutions are also proposed.