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“KazAgro” explained new rules for seed financing

by April 4, 2017 Health

It is known that this year “Agrarian Credit Corporation” acts as an operator under the program for financing of spring-field and harvesting works.

To obtain some loan farmers can apply to one of13 regional branches at their place of residence and activity or to the central office of the city of Astana. It is necessary to provide an application for financing and a list of documents for obtaining of loans for peasant, private farms and individual entrepreneurs or for legal entities.

“KazAgro” also explained new rules for financing of the spring-field work.

In order to diversify the acreage, the Ministry of Agriculture of Kazakhstan determined that this year, first of all, the following crops will be credited for sowing operations: oilseeds (sunflower, flax, rapeseed, soybeans), barley, sugar beet, rice, maize for grain, cotton, oats and potatoes. The amount for priority crops in the amount of 22 billion tenge is reserved until April 1, 2017. After this date, the balance of the funds will be distributed as the applications from the agrarians are received. It is reported that in the case of not taking back the reserved money, the remaining amount will be given out to all agricultural crops, including from the priority list.

It should be noted that in accordance with the terms of the program for crediting land plots, houses, movable and immovable property located in the districts, cattle and agricultural machinery are accepted as a security.

If an entrepreneur does not have sufficient property that can be put on bail, it is better to apply for a loan in a credit partnership. In such a case, the pledgers may be relatives or any other third parties.

Source: Kazakhstan 2050