Bishkek, May 18, 2020 / Kabar/. The Russian-Kyrgyz Development Fund (RKDF) has developed a profitable loan product for agricultural development, the press service of the Fund reported.
During the COVID-19 pandemic, the RKDF continues to take measures to support the economy in order to minimize the impact of crisis on business.
As part of the preparation and initialization of cluster development in various sectors of the Kyrgyz economy, the RKDF has developed new loan products based on the cluster approach in the following areas:
• development of dairy production;
• development of meat production;
• development of aquaculture.
In fact, the entire production chain is covered for each of these areas.
The benefits of the new cluster products are:
• long grace period for repayment of the principal amount of the debt - up to 36 months;
• low interest rates;
• longer loan terms depending on the goals - from 5 to 7-10 years;
• more favorable conditions for collateral;
• the possibility of replenishing working capital for the purchase of raw materials (including biological raw materials), feed, spare parts, materials, veterinary medicines, vitamins, other materials and services within the framework of the investment project;
• in exceptional cases, may include a refinancing component.
New loan products can be issued both through direct financing (directly by the Fund), and through our partners - commercial banks and micro-finance organizations. New cluster loan products for rural producers have become much more affordable in terms, in amount, in currency, in repayment scheme, at interest rate, in collateral.
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