Baiterek Holding to allocate 100 billion tenge for leasing agricultural machinery at 5% interest

     Baiterek Holding is launching a program to offer preferential leasing of machinery through its subsidiary KazAgroFinance. The program has allocated 100 billion tenge to support businesses in the agro-industrial complex, as reported by the Holding's press service.

     The Government of Kazakhstan and Baiterek Holding have collaborated to introduce the program, aimed at providing Kazakhstani agribusinesses with preferential leasing options for domestically produced agricultural machinery.

     "The President of Kazakhstan has assigned us the goal of increasing the annual renewal rate of agricultural machinery to 10%. In line with this directive, Baiterek Holding will allocate funds to enable farmers to purchase domestic agricultural machinery at a low interest rate. State support will be provided through KazAgroFinance. This is an excellent opportunity for small and medium-sized enterprises to update their agricultural machinery fleet, as the preferential financing instruments are specifically designed for them. Additionally, this program will support our equipment manufacturers by boosting their sales," said Rustam Karagoishin, Chairman of the Board of Baiterek Holding.

     Agribusinesses will be eligible for preferential leasing for up to 7 years, at an interest rate of 5% per annum. The machinery must be purchased from domestic manufacturers.

     KazAgroFinance has reported that in the first 5 months of 2024, farmers have already acquired over 4 thousand units of equipment, with 60% being domestically produced.