KazAgroFinance JSC has attracted funding from Societe Generale to the amount of USD 25 mln.
27.07.2015 KazAgroFinance JSC and Societe Generale signed a Bilateral Loan Agreement on providing KazAgroFinance JSC with financing for a term of 5 years. In June of this year, the facility was fully spent. These funds were used to purchase agricultural machinery to be further leased by Kazakh farmers. "Currently, raising funds from foreign investors is an additional source of funding from extra-budgetary resources, - says Aslan Nokyshev, the Head of Fundraising Department of KazAgroFinance JSC. Thanks to foreign investors, we were able to significantly increase the number of machinery to be transferred to Kazakh farmers. It is good that foreign investors trust in our company and give money resources without any additional guarantees from the Kazakh side, it means that they see us as a reliable partner,"- concludes Aslan Bauyrzhanovich. Cooperation with Societe Generale is not the first deal with foreign investors. Agreements on provision of various kinds of funding have been concluded with such major financial institutions as “Islamic Development Bank”, “Gazprombank”, “Agricultural Bank”, “Eurasian Development Bank”, “Deere Credit”, “LandesBank Berlin”, “HSBC”. Most of the attracted funds were invested in purchase of agricultural machinery and its subsequent transfer to farmers on a lease basis. For information, KazAgroFinance JSC is a company established in 1999 by the Decree of the Government of the Republic of Kazakhstan. The main goal of KazAgroFinance JSC is to support the development of the agricultural sector of RK by providing agricultural producers with access to financial resources, as well as agricultural machinery and technological equipment on a lease basis.
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