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Saturday, September 26th, 2020

89% of microcredits are used on agricultural development

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According to T. Duisenova KZT 30.8 billion provided on microcredits in 2016.

Past experience shows that most participants of the program used microcredit on agriculture (79%), particularly on the livestock, as it is the most intuitive and affordable business for the villagers.

“In this regard, we increased the size of micro-credit up to 6 million tenge to stimulate the association in the agricultural cooperatives and the creation of small-scale production on the basis of this personal economy in 2016. The cooperation will help them to work together, to address issues of feed and marketing of products, to ensure productive employment and thus create additional jobs for villagers. 10 billion tenge allocated of the total amount on these purposes,” T. Duisenova said.

It is worth noting that it is planned to issue microloans to 9 thousand people in the current year, at the same time creating an additional about 12 thousand jobs.

Source: The Prime Minister of Kazakhstan

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