JSC KazAgroFinance took part in a pilot project using digital tenge aimed at tracking the distribution and development of investment subsidies. As part of the pilot, a farmer from Akmola region was able to lease agricultural machinery at a preferential rate, the press service of JSC KazAgroFinance reports.

The pilot project on the use of digital tenge showed good results. Astykzhan K T LLP from Akmola region, which acted as a potential lessee, was able to purchase agricultural machinery at a preferential rate of 5%. The advance payment was paid from state funds using digital tenge.

The total amount of the contract was 7.7 million tenge, the farmer leased a grain and fertilizer seeder-cultivator and a rotary mower.

“One of the key advantages of the digital tenge is the elimination of the need for preliminary transfer of funds to special accounts. In addition, the new mechanism automates control over advance payments. The system will ensure automatic withdrawal of the required amount to the financial institution following the conclusion of the leasing agreement. This will avoid errors and misunderstandings, and will also increase the transparency of all financial transactions," said Mars Alish, Deputy Chairman of the Board of JSC KazAgroFinance.

The digital tenge is considered as the third form of the national currency of Kazakhstan. Moreover, its uniqueness lies in the fact that it combines the advantages of cash and non-cash payments. For example, to make payments with digital tenge, you do not need the Internet. Also, with the help of blockchain technology, a high level of data protection and transparency of all transactions will be ensured. This will make it possible to control the flow of budget funds.

Recall that in February 2024, at an extended meeting of the government, the President instructed to scale up projects for marking and tracking money using the digital tenge. In this direction, the introduction of the mechanism of "coloring money" in the processes of mastering budget funds was laid down in the concept of anti-corruption policy approved by the decree of the President.