A memorandum has been signed between the Ministry of Agriculture, the Ministry of Finance, Aiyl Bank JSC, John Deere and Eurasia Group, which will launch a project to upgrade agricultural equipment. Press service of the Ministry of Agriculture of Kyrgyzstan reported.
According to the ministry, John Deere will provide Kyrgyzstan with $50 million for concessional lending of agricultural equipment.
«The Ministry of Agriculture has set a goal to renew the agricultural equipment fleet by 10 percent by 2026. Today’s agreement with John Deere is only the first step in achieving our goals. Our team will be working specifically on fleet renewal and implementing goals to provide access to the best farm equipment for farmers. Cooperation with the corporation should be the beginning of a large-scale renovation of the agricultural equipment fleet in Kyrgyzstan and development of agriculture in the country as a whole,» the press service quotes Askarbek Dzhanybekov as saying.
John Deere is a U.S. machinery manufacturing company, which produces agricultural, construction and logging equipment. It is the world’s largest manufacturer of agricultural machinery.
