Kyrgyz farmers to receive concessional loans under new project

Bishkek, Mar.10, 2020. /Kabar/. A project of concessional lending under the “Agricultural Financing-8” project was approved in Kyrgyzstan, Deputy Minister of Agriculture of the country Janybek Kerimaliyev said at the press conference at Kabar News Agency.

He added farmers can obtain loans from two state-owned banks and three commercial ones.

"Financial loans are granted to agricultural producers, food and processing companies for the following types of priority agricultural products: milk, meat, wool, honey, fish, vegetables (onions, garlic, tomatoes), potatoes, fruits (seed, stone), berries (raspberries, strawberries, currants), industrial crops (cotton, tobacco), oilseeds and beans," Kerimaliyev said.

According to data of the deputy agriculture minister, the loan amount:

1. “Agricultural Financing - Farmer”

- up to KGS 15 thousand for up to 18 months;

- from KGS 150 thousand to KGS 400 thousand for up to 36 months.

2. “Agricultural Financing - Cluster": from KGS 400 thousand to KGS 10 million, up to 36 months.

3. For enterprises of food and processing industry - from KGS 1 million to KGS 50 million, up to 60 months, for the acquisition of fixed assets and up to 36 months - working capital.

Janybek Kerimaliyev also noted this year a significant role is given to the reduction of unused arable land and creation of organic regions in each oblasts of the country.