Economics

World Bank to give Kazakhstan $ 500 million for livestock development

Photo of the press service of RK Agriculture Ministry
The World Bank's Board of Directors in Washington has decided to finance the Sustainable Livestock Development Project, developed for Kazakhstan. The next step will be the signing of an appropriate loan agreement. Presumably, it will be held this fall, Kazpravda.kz reports citing the press service of the Ministry of Agriculture of the Republic of Kazakhstan.

Under the terms of the project, $ 500 million will be allocated to the republic for the comprehensive development of animal husbandry. The plan developed by the bank should be implemented within 5 years - from 2021 to 2025. During this period, Kazakhstan is obliged to develop and increase the export-oriented sector of livestock meat production without increasing negative impact on the environment.

In implementing the project, a completely new financial instrument for Kazakhstan will be applied - a loan under a result-oriented program (ROP). This mechanism provides for conditions when the funds are paid to the borrower only as agreed results are achieved.

The key results of the project are the improvement of veterinary services and animal accounting, the promotion of a farmer-centered model, and an effective agro-ecological policy for meat
industry.

Also, for sustainable export growth and competitiveness, a traceability system will be developed, the modernization of the veterinary service will continue, a knowledge scaling system will be created that will allow training
farmers engaged in cattle breeding.

In addition, in order to create jobs and increase the incomes of rural residents, it is planned to support the creation of more than 20 thousand family farms that will work in cooperation with feedlots.
11:52, 4 July 2020
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