Moreover, the Board of Directors of “KazAgroFinance” JSC will reconsider interest rates under leasing contracts concluded earlier. For example, it is expected to reconsider value of rates from 11,5 to 10,5 per cent for farms and agroformations financed at the expense of the company under leasing terms in 2011. Leasing contracts under terms of 2009 will be recalculated from 12,5 to 10,5 per cent.
Earlier this week, some electronic media has published an appeal of the Chairman of the Board of “Atameken” Union” National Economic Chamber of Kazakhstan Azat Peruashev to the National Managing Holding “KazAgro” (http://nomad.su/?a=4-201105030022). The message dealt with the alarm of rural entrepreneurs over the increase by “KazAgroFinance” of fixed interest rate to 11,5 per cent. Perhaps, the Head of “Atameken” Union” was informed by not quite reliable sources. It should be noted that the rate of 11,5 per cent was used by “KazAgroFinance” for two years and was remained unchanged since 2010. In 2009, financial leasing at the expense of the company was provided at the rate of financing of 12,5%. Value of these rates was caused by the necessity to comply with requirements of bank-creditors. Currently, “KazAgroFinance” considers the possibility of prepayment and repayment of obligations in full to them.
In general, conditions of financing by “KazAgroFinance” JSC of entities of agro-industrial complex of the country in 2011 are as follows:
- Financing at the expense of the Republican budget: interest rate – 4 per cent per annum for a period of up to 7-10 years.
- Financing through attracted (borrowed) funds: interest rate – 9,9 per cent for a period of up to 10 years.
Funds of “KazAgroFinance” are provided for the renovation by farms and agroformations of the country of fleet of agricultural machinery, for the purchase of various processing equipment and implementation of projects in agriculture of the country.
“KazAgroFinance” JSC is a company founded by the regulation of the Government of the Republic of Kazakhstan in 1999. The main goal is to support the development of agrarian sector of the country by providing access for agricultural producers to financial resources, as well as to agricultural machinery and technological equipment on leasing basis. During the period of 2000 – 2010 the company invested KZT 193,2 milliard in agro-industrial complex of the Republic of Kazakhstan, and financed the purchase of 16 046 units of various agricultural and special machinery to the total amount of KZT 126,3 milliard. The company is a part of the National Managing Holding “KazAgro”.
Press Service of “KazAgroFinance” JSC,
Rinat Tasbulatov, tel: (7172) 55-73-41 ext.427
mob: +7 701 460 91 82; e-mail: firstname.lastname@example.org
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