300 bln tenge is allocated for spring field and harvesting works

Starting from April 29, Baiterek Holding will launch a new program of preferential financing in the amount of 300 billion tenge (around $678 million). The program is aimed to support the agro-industrial sector in conducting spring field and harvesting works, reports Kazinform News Agency.

According to the program, Damu Entrepreneurship Development Fund JSC will provide guarantees in the amount of 85% of the loan for farmers who have problems with collateral security. This measure is taken for the first time and helps strengthen food security and stabilize prices for products on the domestic market.

Moreover, farmers affected due to the floods situation and last year drought, will receive 5% per annum funding through the Agrarian Credit Corporation.

Chairman of the Board of Baiterek Rustam Karagoishin emphasized that the holding will increase financing of agriculture in accordance with the instruction of the Head of State.