Kazakhstan allocates 140 billion tenge to finance spring field work in 2023
Budget lending to finance spring field and harvest work in Kazakhstan continues. According to the Agrarian Credit Corporation, in 2023, 140 billion tenge were allocated from the state budget to procure oil and lubricants, spare parts and materials for repair of agricultural machinery, mineral fertilizers and crop protection products, seeds, and other products for sowing and harvesting. It bears noting that finance is provided only through the state funding of credit unions, second-tier banks, and microfinance institutions. The interest rate for the subjects of the agro-industrial complex will not exceed five percent per annum. It should be reminded that from 2022, the loan term under the financing program is extended until early spring of next year.