Domestic producers receive soft loans for KGS 5 bln

Bishkek, Nov.22, 2019. /Kabar/. Domestic producers have been granted soft loans worth over 5 KGS billion, the press service of the Ministry of Finance of Kyrgyzstan reported.

According to the data of the State Agency for Budget Loans Management under the Ministry of Finance, as of Nov. 15, 2019, under the Financing of Agriculture 7 project commercial banks issued 9 thousand 908 soft loans worth KGS 5 billion 43.6 million.

Of these, 2 thousand 834 soft loans worth KGS 1 billion 116.4 million were granted for crop production, 6 thousand 755 soft loans worth KGS 2 billion 614 million for livestock production, and 319 soft loans for KGS 1 billion 313 million were granted for processing and services.

Within the framework of this project, funds of commercial banks and financial and credit institutions are provided at a preferential interest rate (at 6, 8 and 10% per annum) to business entities and individuals of the Kyrgyz Republic for the development of crop, livestock and agricultural products processing.