Baiterek Holding financed the agro-industrial complex for 393 billion tenge

Over the first 10 months of this year, Baiterek Holding funded the agro-industrial complex with 393 billion tenge. This was announced by Aidar Arifkhanov, Chairman of the Holding’s Management Board, at the meeting of the Government of the Republic of Kazakhstan.

– 70 billion tenge was allocated for spring field and harvesting works. The lease of agricultural machinery was funded with 132 billion tenge. 60 billion tenge worth of microcredits were issued in rural areas. Also, loans for 65 billion tenge were issued to the industry through credit partnerships and microfinance organizations. Direct crediting amounted to about 31 billion tenge, – said Aidar Arifkhanov.

Moreover, 35 billion tenge was allocated to finance investment projects in the agro-industrial complex. Investment projects in the agro-industrial complex are financed by the Holding’s subsidiaries: the Agrarian Credit Corporation, the Development Bank of Kazakhstan, and the Kazyna Capital Management.

– Out of 285 investment projects planned to be implemented this year by the Ministry of Agriculture, 69 are to be funded by the Holding's subsidiaries with 63 billion tenge. 67 projects have already been financed, while the remaining two projects are now being approved, – stated Aidar Arifkhanov.

In general, 56 projects with a total cost of 62 billion tenge were commissioned with the financial support of the Holding, while 1695 permanent and 204 temporary jobs were created.