Kyrgyzstan to receive $50 mln to upgrade agricultural equipment

Bishkek, May 17, 2022. /Kabar/. Kyrgyzstan’s Ministry of Agriculture, Ministry of Finance, Aiyl Bank OJSC, Deere & Company and Eurasia Group signed a memorandum on the beginning of the project to upgrade agricultural equipment in the Kyrgyz Republic. The world's leading company in the field of technology and innovation in agriculture John Deere will provide Kyrgyzstan with USD 50 million for concessional lending of agricultural equipment, the press service of the Agriculture Ministry said. To date, the republic has a low level of equipment fleet renewal, which directly affects the yield of farmers and has other negative consequences. The effective development of agriculture requires an update of the equipment fleet by at least 10%. "The Ministry of Agriculture has a goal of renewing its fleet of agricultural equipment by 10 percent by 2026. Today's agreement with John Deere is only the first step in achieving that goal. Our team will be spotlighting the fleet renewal and implementing goals to ensure farmers have access to the best farm equipment. Cooperation with a corporation like John Deere should be the beginning of a large-scale renewal of the agricultural equipment fleet in Kyrgyzstan and the development of agriculture in the country as a whole," Agriculture Minister Askarbek Dzhanybekov said. The availability of John Deere's innovative high-performance farming equipment will allow farmers to increase productivity by at least 2 times, unlock the potential of soil, seeds and fertilizers; implement and apply digitalization and artificial intelligence technologies in agriculture.