Farmers of Kyrgyzstan able to receive loans secured by their products

Bishkek, Aug. 10, 2022. / Kabar /. Farmers in Kyrgyzstan will be able to receive loans secured by their products, Ulan Chekirbaev, Head of the Department of Cluster Development and Value Added Chain of the Ministry of Agriculture of the Kyrgyz Republic told at a press conference at Kabar Agency. he said that in order to receive loans, farmers need to obtain a warehouse certificate from commodity warehouses, where the crop will be stored. “Previously, in order to receive a loan, farmers had to pledge real estate or equipment. However, the farmers, who had no property, were left with nothing. Today we offer farmers to leave their products as a guarantor. Get a warehouse receipt and apply to any financial institution for a loan, through which he can cover his needs and later sell the goods at an affordable price,” he said. Chekirbaev also noted that, in turn, the warehouse owners are obliged to provide the necessary conditions for storing products on demand.