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Baiterek Holding engages in the 40th Berlin Eurasian Club meeting

25.05.2022

Baiterek Holding doubles the financing for sowing campaign

Baiterek Holding doubles the financing for sowing campaign

The financing of spring field and harvesting works continues. The funding is done by the Agrarian Credit Corporation, a subsidiary of Baiterek Holding.

This year, Baiterek Holding decided to increase the financing of spring field and harvesting works to support farmers. The funding will be increased from 70 billion to 140 billion tenge. Under the Ken Dala Program, two loans of 70 billion tenge each were allocated from the budget. The loans are issued to borrowers at a rate of 1.5-5% per annum.

The first budget loan was used to fund 2.5 thousand farmers enabling them to cultivate 3.7 million hectares.

The second budget loan was used to finance 435 farmers with 14.2 billion tenge. Thus, the total financing for the spring field and harvesting works amounted to 84.2 billion tenge. The funding helped farmers cultivate more than 3.8 million hectares. Applications for funding are still being accepted.

The farmers who received funding under the second budget loan can repay their loans in the Agrarian Credit Corporation before March 1, 2023. It will allow them to sell crops at higher prices at the beginning of next year.

Preferential loans help farmers purchase fertilizers, pesticides, fuels, lubricants, quality seeds, spare parts for agricultural machinery, and pay wages to employees.

Farmers can receive necessary financing in the Agrarian Credit Corporation’s regional branches and in other funded financial organizations: banks, microfinance organizations, and credit partnerships.

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