Baiterek Holding allocates 100 billion tenge for agrarians

Baiterek Holding has earmarked 100 billion tenge to finance Kazakhstani agrarians, Kazinform News Agency reports.

Holding’s press service said in a statement that on May 16, 2024, Baiterek Holding had allocated 100 billion tenge for Agrarian Credit Corporation JSC by bond purchase on KASE platform in order to provide farmers with timely funding for spring field and harvesting works. The total planned investment fund in agro-industrial complex projects stands at 300 billion tenge in 2024. Taking into account a subsidization of the rate of remuneration, agro-industrial complex entities will receive concessionary financing.

According to the Agrarian Credit Corporation, as a result of additional funding of spring field and harvesting works, a coverage of about 4 million hectares of cultivated areas will be provided in the amount of up to 300 billion tenge.