Spring field work is in full swing and JSC Agrarian Credit Corporation provides loans to agricultural producers. By date, farmers of major grain growing regions such as Akmolinsk, Aktobe, Karaganda, Kostanai and North Kazakhstan have been given loans worth 26 billion 705 million tenge.

- These loans will allow the agro producers to plant 1.4 million hectares of sown area, - Aigul Mukhamadieva, deputy chair of the Board of JSC Agrarian Credit Corporation said at the yesterday’s briefing at the agriculture ministry.

Last year the corporation gave out loans worth 19 billion tenge borrowed from the national budget, which allowed to sow 800 hectares. This year it is lodged with applications totaling about 32 billion 365 million tenge. The national budget plans to allocate 39 billion tenge to this end.

According to A. Mukhamadieva, timely crediting will allow agricultural producers to make necessary arrangements, such as the purchase of fuel and lubricants, spare parts and materials for the repair of agricultural machinery, fertilizers, plant protection, and other material resources to pay the premiums for insurance of agricultural products and other activities for sowing and harvesting.

- Loans for spring sowing and harvesting can be obtained at a rate of 5% per annum up to December 1, 2012 under the guarantee of second-tier banks. Application review takes 3-5 days, - she added.

Moreover, for spring sowing and harvesting through a system of credit unions in 13 regions of the country the Corporation has given loans to 440 farmers totaling more than 3 billion 278 million tenge. These loans are given at a rate of average 8-9% per annum for up to 18 months.

Alexey Zhukov