580 billion tenge will be allocated for preferential financing of spring field work in Kazakhstan - this is three times more than in previous years. Lending is already underway, but farmers are complaining about excessive demands from the Agrarian Credit Corporation. Therefore, at a meeting in the government, Deputy Prime Minister Serik Zhumangarin instructed to resolve this issue, the prime minister’s press service reported.
This year, 40 billion tenge has been allocated for forward purchases to the Food Corporation. Under the Ken Dala-1 program, 140 billion tenge were allocated (applications for 147.3 billion tenge were received, 121.3 billion tenge were issued). For Ken Dala-2, 295 applications have already been received for 22.5 billion tenge, of which 81 have been approved for 3.6 billion tenge.
According to the press service, agricultural producers are receiving complaints about excessively inflated demands from the ACC when allocating preferential funds for Ken Dala-2. These include: confirmation of information about sown areas and crops over the last three years, availability of sown areas in ownership or on the right of temporary paid use and three years of experience in agricultural activities, insurance against excess moisture, and others.
“The money allocated for spring field work is the basis of the country’s food security. You need to approach each request individually. In the near future, 100 billion tenge will be allocated from the government reserve and local budgets to subsidize the interest rate, which will make it possible to attract an additional 400 billion tenge at 5% per annum for agricultural producers for spring field work. And farmers should receive these funds without any delay,” Serik Zhumangarin emphasized.