A grant financial agreement was signed between Kyrgyzstan and the German Development Bank (KfW) on the project «Agricultural value chains financing, phase 2». Press service of the Ministry of Finance of Kyrgyzstan reported.
The republic will receive €10 million to support the agro-financial sector. The aim of the project is to assist farmers and enterprises in obtaining access to long-term agricultural investment loans in national currency for the renewal of equipment and application of modern technologies through selected commercial banks.
«In addition, a grant of €9 million was allocated for the first phase of the project «Agricultural value chains financing». As part of the project, participating partner banks promote the development of agricultural value chains and the best practices for the production of competitive agricultural products. They will issue sub-loans in soms for a period of more than three years for the purchase of agricultural machinery, equipment as well as sub-loans for working capital,» the ministry said.
