01.08.2022

Baiterek Holding to lease agricultural machinery on preferential terms

Baiterek Holding to lease agricultural machinery on preferential terms

Baiterek National Managing Holding, the Ministry of Industry and Infrastructure Development, the Ministry of Agriculture, and the Ministry of Ecology, Geology and Natural Resources of the Republic of Kazakhstan are launching a preferential agricultural machinery leasing program. The program will be implemented by the Industrial Development Fund and KazAgroFinance.

The Industrial Development Fund will attract 30 billion tenge from Zhasyl Damu JSC (a waste management company). KazAgroFinance will attract 10 billion tenge from capital markets. In total, it is planned to allocate 40 billion tenge.

On August 5, 2022, KazAgroFinance will start accepting applications for participation in the program. One can apply in the company's regional branches.

KazAgroFinance will consider applications and then lease agricultural machinery on the following conditions:

  • maximum lease term – 10 years

  • interest rate – 6% per annum

  • no down payment required

  • grace period for principal debt repayment – 1 year

  • the maximum amount of financing – 205,000,000 tenge and up to three units of agricultural machinery per lessee.

One can participate in the program only once in two years.

The following domestically produced agricultural machinery is eligible for leasing under the program:

• Agrimotors of the following brands: LOVOL, DEUTZ FAHR, TURAN, KIROVETS, BELARUS, RSM, YTO, CLAAS XERION, DONG FENG, and WUZHENG

• Grain harvesters (rice harvesters) of the following brands: ESSIL, VECTOR, ACROS, TORUM, CLAAS TRION, and DEUTZ FAHR

• High-performance forage harvesters, self-propelled forage harvesters

The list of agricultural machinery manufacturers includes: Agromash Holding KZ JSC, Kostanay Tractor Plant LLP, Kazakhstan Agro Innovative Corporation LLP, SemAZ LLP, Kazrost Engineering Ltd., ST ESEMBLI LLP, KazKioti LLP, and MTZ-Kazakhstan Machine-Building Plant.

It is worth noting that the money obtained from one lessee will be used to provide machinery to another one. The program will be valid for 20 years.

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