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Launching of Subsidies of the Interest Rate on Leasing of the Agricultural Machinery for 2013

Launching of Subsidies of the Interest Rate on Leasing of the Agricultural Machinery for 2013 23.07.2013 Within the framework of the Program “Agribusiness-2020” the Program for Cheapening the Interest Rates on Crediting (Leasing) of Agricultural Machinery for 2013 has been developed to support the agricultural producers. It is commonly known that within this Program the Company leases the agricultural machinery at the rate of 12.8% p.a., 5.8% of them are paid by the Lessee, and 7% are compensated by the state. According to the Program terms, there are subsidized the financial leasing contracts for the agricultural machinery signed no earlier than January 1, 2013. To date all the required procedures and regulating activities have been finalized, and “KazAgroFinance” JSC officially starts accepting the documents from the lessees to participate in the competition for subsidies. The required list of documents for subsidies is as follows: 1. Application of the lessee in the prescribed form (attached); 2. Certificate or Reference of State Registration/Re-registration of the lessee (copy stamped and signed by the lessee); 3. Financial leasing contract along with the principal and interest repayment schedule; 4. Document proving the transfer of the subject of leasing to the lessee (copy certified by the financial institution). The Operator of this Program is “Kazagromarketing” JSC, the Program Administrator is the Ministry of Agriculture of the Republic of Kazakhstan, and the final decision on subsidies will be made by the Committee established by the Program Administrator. “KazAgroFinance” JSC is the company established by the Regulation of the Government of the Republic of Kazakhstan in 1999. The main objective of the Company is to support the agricultural sector of the republic by providing the agricultural producers with the access to the funds, as well as the agricultural machinery and technological equipment on lease basis. The Company is a part of the National Managing Holding “KazAgro”.

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