KazAgro allocates KZT 74.3 billion for sowing campaign in 2013

ASTANA. March 6. KAZINFORM The National Holding "KazAgro" intends to provide a total of about 74.3 billion tenge for the sowing campaign, according to the Holding's press service.

"Spring sowing in 2013 will be financed from three sources - budget credit in the amount of 60 billion tenge, own funds of the Fund for Financial Support of Agriculture in the amount of 600 million tenge, and 13.7 billion tenge allocated to purchase grain for state reserves," according to the press release.

This year the Agricultural Credit Corporation for the convenience of agricultural producers launches additional loan products to finance through credit society and with delayed performance period for liabilities.

Thus, funds are allocated to farmers under the 5% per annum with pay-back period until the beginning of December 2013.

In addition, as part of large-scale support of the subjects in the field of crop production the Fund for Financial Support of Agriculture starts the program "Yegіnzhay".

Source: Kazakh PM's website