Kyrgyz Cabinet approves project on agricultural lending

Bishkek, April 6, 2022. / Kabar /. The Cabinet of Ministers of Kyrgyzstan approved the project "Agro-Industrial Complex Lending”, Deputy Minister of Agriculture of Kyrgyzstan Azamat Mukashev said during a press conference at Kabar News Agency. The purpose of this project is to ensure food security, support of business entities of agrarian sector by concessional lending and leasing, through development of agro-industrial clusters. "The project provides crediting of cluster participants of milk, meat (meat of cattle and cattle, poultry, fish), sugar, chicken eggs, vegetables, fruits, potatoes, vegetable oil, crops," the deputy minister explained. Mukashev also pointed out that within the framework of the above project, KGS 10 billion are allocated from the republican budget, of which KGS 9 billion are allocated to 9 clusters, about KGS 1 billion for each cluster. "Thus, of the funds allocated to cluster associations, 55% are allocated to farms, seed and breeding farms, nurseries of fruit and berry crops, rural cooperatives, individual entrepreneurs and individuals of each cluster. In turn, the remaining 45% will be allocated to units of cluster associations," the official explained. Besides, KGS 1 billion are allocated for leasing of agricultural machinery, agricultural industrial equipment, highly productive and breeding farm animals.