The Ministry of Agriculture will revise the system for subsidizing loans to farmers.

“To ensure the industry has access to long-term and affordable credit resources, the system of subsidizing loans for farmers will be revised, transitioning to preferential lending. This will help reduce risks for the agribusiness sector that arise in the absence of budgetary funds,” Azat Sultanov reported.

According to him, there will be restrictions on the issuance of loans in the absence of funding, which will prevent business dissatisfaction.

“For instance, the mechanism for subsidizing loans through the ‘Damu’ fund is already in place. These measures will facilitate the involvement of private banks in financing the agro-industrial complex,” the deputy minister added.

Additionally, it was announced at the meeting that financing for spring fieldwork and harvest activities in 2025 is planned to reach 700 billion tenge. Currently, the draft budget for 2025 allocates 45 billion tenge, with an additional need of 71.9 billion tenge.

“Without waiting for this decision, the Agricultural Credit Corporation will begin financing on November 29 with an allocation of 100 billion tenge. To date, applications have already been received from more than 500 agricultural producers. Funds will be accessible to farmers through second-tier banks, credit unions, socially-oriented entrepreneurial corporations, and the Agricultural Credit Corporation itself,” Sultanov concluded.