KazAgro started financing of 2011 sowing campaign at reduced rates
11:42, 20 January 2011
ASTANA. January 20. KAZINFORM /Serik Sabekov/ KazAgro has started financing of sowing campaign of 2011 backed by the public budget loan amounting to KZT 78 bln and forward purchase of grain for the state resources. Chairman of the Board of National Holding KazAgro JSC Assylzhan Mamytbekov has announced it at the session of the board of the Ministry of Agriculture.
According to him, the Holding reached an agreement with the Financiers' Association on reduction of upper limit of commission of future bank guarantees by second-tier banks. A memorandum on 4 percent equity decrease will be signed in the nearest future.
"Besides, the Holding initiated reduction of credit interest rates provided to entities of agroindustrial complex under the bank guarantees from 7 percent to 5 percent", A.Mamytbekov said.