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Kyrgyzstan launches agriculture financing project

Implementation of Financing of Agriculture — 9 project has started in Kyrgyzstan. The corresponding decision was signed by the Prime Minister Ulukbek Maripov.

According to the press service of the Government, the decision was made in order to successfully conduct spring field work and timely finance agricultural entities.

The target sectors within the project will be animal husbandry, crop production and processing of agricultural products.

Favorable interest rates are provided in the amount of 6, 8 and 10 percent per annum.

The crediting period will be up to 60 months, based on the target industry:

• 10 percent per annum for farmers engaged in animal breeding and crop production;

• 8 percent per annum for economic entities in cattle breeding and crop production category that undertake to enter into agreements and / or contracts with food processing enterprises participating in this project.

Funding is also provided for the following economic entities in the crop production category:

  • Water-saving irrigation technologies — drip irrigation, sprinkling;
  • Greenhouse facilities;
  • Intensive gardening;
  • Organic agricultural production.

Six percent per annum interest rate is provided for food processing enterprises.