Kazakh Government to help repay loans of almost 300 farm producers
11:25, 3 November 2014
ASTANA. KAZINFORM To reduce the amount of problem loans in the sphere of agro-industrial complex, to reduce loan debts and minimize bankruptcy risks the Kazakh Agriculture Ministry will provide funds for financial rehabilitation of the agro-industry entities under the Agribusiness 2020 program, its press service said.
Applications of 292 entities for an overall amount of debts up to KZT 312,9 bln have been approved as of today.127 entities with debts totaling KZT 245,6 bln will be rehabilitated through KazAgro Holding funds. 17 financial institutions will take part in financial restricting program at large. KazAgro will refinance obligations of the agro-industrial entities through concluding a new loan agreement with an annual rate of remuneration of no more than 7%.