Tokayev orders new large-scale system of long-term financing for farmers

The Head of State said agriculture must continue to grow at a strong pace.

“Last year, the sector grew by almost 6%, while agro-industrial output reached 15 trillion tenge. Financing on preferential terms increased from 1 trillion to 1.5 trillion tenge compared with the previous year,” Kassym-Jomart Tokayev said.

However, he noted that some allocated funds cover immediate needs and replenish working capital.

“Farmers need a large-scale financing system that allows them to plan their activities over the long-term. The government must therefore introduce effective, practical mechanisms to provide farmers with long term investment funding,” the President said.

Earlier, Qazinform News Agency reported that Tokayev had outlined Kazakhstan’s infrastructure needs to become a major Eurasian transit hub.