Export oriented agricultural enterprises of Kazakhstan can get favorable loans under a special program
Narmukhan Sarybaev said that Kazakhstani agricultural enterprises with export potential can get favorable loans at reduced interest rates.
Investment projects for the creation, expansion and modernization of butter factories, meat processing plants, poultry factories of meat, feed mills, fruit storages, greenhouse complexes, commercial fish production and so on are now in the priority of financing. Agrarian Credit Corporation has been implementing the program “AgroExport”, aimed at financing investment projects since the end of 2016. The program budget for the current year is about 80 billion tenge.
The program “AgroExport” provides domestic agricultural producers with the most reduced lending rate, which for the final borrower is 8% per annum. A long term of credit is provided – up to 10 years, and the grace period after which the payment of the loan begins, lasts up to 2 years. Mandatory requirements of the program – a stable financial position, the availability of a business plan, participation in the project with own funds of at least 15%, and the availability of collateral.
The loan can be obtained for the purchase of fixed assets, including modernization of facilities, construction and installation works and reconstruction, replenishment of working capital in the framework of the investment project.
The funds under the program “AgroExport” will be allocated both directly from ACC and through the lines of Kazakhstani second-tier banks. Corporations have signed corresponding agreements with a number of banks, including Halyk Bank, ForteBank, TsesnaBank, VTB Bank Kazakhstan, Sberbank and others. Clients who wish to receive financing for the creation of investment projects can apply to branches of banks in the cities of the presence in Kazakhstan.
Source: Prime Minister of the Republic of Kazakhstan