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Soft loans of 5.3 billion soms to be allocated to farmers in 2019

The Ministry of Finance of Kyrgyzstan signed contracts with commercial banks for 5.3 billion soms for the implementation of Financing of Agriculture — 7 project. Website of the ministry says.

Agreements with 9 banks for the implementation of the project have been signed. Preferential loans will be provided for the development of crop farming, livestock and agricultural products’ processing.

Lending to agricultural producers will be carried out at 6 percent per annum for the processing of agricultural products, at 8 percent — for entities, engaged in horticulture and intensive forestry, greenhouse farming and introduction of a drip irrigation system, purchasing breeding cattle or equipment for artificial insemination. A loan for the livestock and crop production industries can be obtained at 10 percent.