Screen Reader09/23/2024
- Who We Are
From September 25 to 27, 2024, Astana is hosting the First Summit of Agro-Industrial Credit Partnerships bringing together representatives from the agricultural sector, investors, commercial companies, and government organizations of Kazakhstan. This event addresses pressing issues related to financing the agricultural sector and enhancing the credit partnership system in the country.
In his opening speech, Nurbolat Aidapkelov, First Deputy Chairman of the Board of Baiterek Holding, underscored the crucial role of credit partnerships in the development of agriculture in Kazakhstan. He noted that the country currently has 209 credit partnerships, uniting 24,500 agricultural producers.
"Since its establishment, Agrarian Credit Corporation (ACC) has issued loans to credit partnerships totaling 800 billion tenge. In just the first eight months of this year, the ACC financed these partnerships with 135 billion tenge, underscoring their significant role in financing agricultural businesses," said Nurbolat Aidapkelov.
He also highlighted the changes occurring within the state support system for agriculture, particularly the launch of the ACC loan guarantee system through the Damu Fund. This initiative opens up new opportunities for farmers who previously faced challenges in obtaining bank loans.
"This year, the ACC allocated approximately 180 billion tenge under the Ken Dala 2 preferential program. We plan to increase this amount to 300 billion tenge next year," he stated.
Managing Director Niyaz Koshkimbaev introduced a new financial product titled "Interest Rate Splitting." According to Koshkimbaev, this approach aims to simplify access to financing for farmers.
"We propose a program where the payment for a market loan is shared between the borrower and the supplier. This structure allows borrowers to benefit from preferential rates while suppliers can sell their goods without complex installment plans. Ultimately, this approach benefits everyone: farmers gain affordable financing, suppliers increase their trade turnover, and the state finances farmers without tapping into budget funds," noted Niyaz Koshkimbaev.
Baiterek Holding remains committed to actively supporting the agro-industrial complex by introducing new financing programs. The summit has emerged as a key platform for establishing business connections, discussing challenges and opportunities within the agro-industrial sector, and creating new avenues for attracting investment in Kazakhstan's agriculture.
