Reducing the Interest Rate on Leasing of the Agricultural Machinery by “KazAgroFinance” JSC for the Spring Field Campaign of 2013
15.04.2013 The countrymen will purchase the new machinery under more favourable terms for the spring field campaign of this year. The interest rate on leasing of the agricultural machinery and special machinery with “KazAgroFinance” JSC, the company being the part of the National Holding “KazAgro”, taking into account the subsidy, made up 5.8%, instead of 12.8% p.a. As of today within preparation for the spring field campaign of 2013 the applications for purchasing of 1 234 units of machinery to the amount of KZT12 mlrd. have been submitted to “KazAgroFinance” JSC. The leading positions on the number of applications are taken by such oblasts as East-Kazakhstan (183 applications to the amount of KZT1.3 mlrd.), Almatinskaya (179 applications to the amount of KZT706 mln.), Kostanaiskaya (140 applications to the amount of KZT1.35 mlrd.), North-Kazakhstan (120 applications to the amount of KZT3 mlrd.) and Akmolinskaya (110 applications to the amount of KZT2 mlrd.). Pursuant to the Subsidy Rules, the state undertakes to reimburse the agricultural producers for 7% of the total financing rate. According to the Governmental Agricultural Sector Development Program for 2013-2020 (within the Agribusiness-2020 Program), starting 2013, the new trend of the governmental support of the agricultural producers is the financial recovery of enterprises, which is to be performed, including through subsidy of the part of the interest rate on the contracts to be made with “KazAgroFinance” JSC for leasing of the agricultural machinery and special machinery. The subsidy term is 3 years with the possibility of extension up to 7 years. In total, within the spring field campaign of 2013 and taking into account the current demand, KazAgroFinance expects to purchase over 1000 units of various agricultural machinery and attached cultivating implements. The respective agreements were entered into both with the Kazakhstan producers and suppliers of the agricultural machinery and the partners from the near and far abroad. In particular, in the course of preparation for the spring field campaign of 2013 “KazAgroFinance” JSC is planning to purchase over 300 domestic “Belarus” tractors produced by “SemAZ” LLP. This is the total volume stipulated by the agreement between the national leasing company and the Semei machinery plant. In total, within the preparation for the spring field campaign it is expected to lease the machinery produced by the plant “SemAZ” to the amount of over KZT1 mlrd. One of the main goals of “KazAgroFinance” JSC activity is the renewal of the machinery and tractor fleet of the Republic of Kazakhstan though leasing of the agricultural machinery and equipment to the agrarians. Thus, during its activity the Company has financed purchasing of over 21 thou. units of various agricultural machinery and processing equipment to the total amount of over KZT188. 0 mlrd. Let us recall, the National Holding “KazAgro” intends to allocate KZT78.3 mlrd. for financing the spring field campaign of 2013. Moreover, KZT 9.5 mlrd. will be allocated for financing through the leasing for purchasing of the necessary machinery by the farms. The allocating operators are the subsidiaries of the Holding - “Agrarian Credit Corporation” JSC, “Agriculture Financial Support Fund” JSC, “National Company “Food Contract Corporation” JSC, as well as leasing of the agricultural machinery through “KazAgroFinance” JSC.
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