KazAgroFinance JSC Allocates Funds of KZT10.5 Mlrd. For Purchasing of Machinery For Sowing Campaign of 2014
15.04.2014 2014 KazAgroFinance JSC allocates the funds of KZT10.5 mlrd. for purchasing of machinery for sowing campaign of 2014. While, the total plan of financing for all machinery in 2014 is over KZT31 mlrd. As of today KazAgroFinance has received the applications to the amount of over KZT8 mlrd. for purchasing of the machinery for spring field campaign of 2014. In total, within the spring field campaign of 2014 and considering the existing demand, KazAgroFinance supposes to purchase over 1000 units of various agricultural machinery and mounted tillage equipment. The respective agreements have been concluded both with the Kazakhstani agricultural machinery producers and suppliers and the partners from near and far abroad. It stands to mention that starting 2013 the advance payment for purchasing of agricultural machinery was reduced to 15% from 25% for supporting the agricultural producers. Within the preparation for the spring field campaign of 2014 the advance payment with collateral will be 15 % of the value of subject of leasing as well. Let us recall that this week the other subsidiaries of the National Holding “KazAgro” has declared on allocation of the funds for sowing campaign and the terms of financing for rural people. For example, the Fund for Financial Support of Agriculture has allocated KZT1.6 mlrd. for the spring field campaign: loan extent – up to KZT6 mln., annual interest rate – 9.5%, effective rate – not more than 10.2% p.a. There is provided for the possibility to repay the loan after sales of two harvests, which is very important for the agricultural producers. Agrarian Credit Corporation JSC extends the loans at 5% p.a. with the maturity of December 1, 2014 against the second-tier bank guarantees, as well as through the loan society system at the interest rate of up to 9% p.a. on the security of movable/immovable assets for the sowing campaign of 2014. By the way, only for 2013 KazAgroFinance JSC financed the purchase of 3 537 units of machinery to the amount of KZT41 527 mln., including 1250 tractors, 727 harvesters, as well as seeders, seeding complexes, processing equipment and other agricultural machinery. Totally, for 2000 through 2013 KazAgroFinance financed the purchase of over 25 000 units of machinery to the total amount of KZT217.7 mlrd.
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