EIB to provide €200 mln loan to KazAgro

ASTANA. KAZINFORM - In 2017 the European Investment Bank will provide €200 mln loan to KazAgro. The agreement is expected to be signed this year. The head of Kazakhstan's Mission to EU Almaz Khamzayev said today during a briefing in MFA, Kazinform reports.

"Negotiations in very important sector for Kazakhstan - agriculture, are underway. KazAgro is negotiating with European Investment Bank. I think that before the end of the year EIB will open and sign a new credit line with one of KazAgro's subsidiaries. This credit line will be intended for agriculture. This is a very important area of work and it would allow us provide help to the development of small and medium sized enterprises in Kazakhstan', Khamzayev said.

According to Kazakh Foreign Ministry, KazAgro National Holding is now negotiating with European Investment Bank (EIB) on a €200 mln loan for the period of 15 years. The agreement is expected to be signed in 2017.

The loan will be used to fund projects of KazAgro's subsidiaries for purchasing of harvesting and post-harvesting machines, upgrading grain elevators, seed production and livestock breeding technologies (excluding GMO's and cloning), fruit tree farming, installation of information systems in agriculture, etc.