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Parliament approves crediting of farmers at not more than 7% per annum

Today, the Parliament of Kyrgyzstan adopted the amendments to the Law On the Development of Agriculture in the third reading.

In particular, the initiators offer to provide concessional lending to agricultural producers (crop production, livestock, poultry, beekeeping), fish products and their processing on terms not exceeding 7 percent per annum. The government of the Kyrgyz Republic will subsidize the costs of commercial banks from the republican budget.

Deputies are confident that this will lead to an increase in the volume of production of agricultural products, ensuring the country’s food security and raising the standard of living of the population.

Earlier, a number of deputies opposed the bill. The document will be sent to the President for signature.