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Saturday, September 19th, 2020

Kazakhstan approved new credit products for the development of agricultural cooperatives


New credit products were approved for the development of agricultural cooperatives – “Yntymak” breeding farm animals – “Ig?l?k”, the creation of milk collection points – “Birlik”, creation of family feedlots – “Bereke,” First Vice Minister said.

K. Aituganov noted that additions to the Decree of the Government on the approval of ERM-2020, providing a one-time increase in the loan amount up to 16 million tenge and the loan period to 7 years, were made in order to ensure the availability of micro-credit to agricultural cooperatives.

“In the framework of the above measures, the ministry has begun to identify pilot areas in each region, where cooperatives, conforming to the implemented measures, will be created. Subsequently, the experience of these cooperatives will be used for replication in other regions,” First Vice Minister said.

Source: The Prime Minister of Kazakhstan