Farmers pay back the loans on time
The national holding "KazAgro" noted high credit discipline among agricultural enterprises
The holding "KazAgro" positively assessed the results of sowing and harvest campaign and rates of funding in 2016. "The holding "KazAgro" provided budget loan in the amount of 60 billion tenge to finance the main agrarian enterprises during sowing and harvest campaign", - said at a briefing the Chairman of the Board of JSC "National Holding "KazAgro" Nurlybek Malelov at the Service of Central Communications.
According to N. Malelov on direct lending to agricultural producers through microfinance institutions were spent 36 billion tenge, on the forward purchase of grain under guarantee of APC - 15.4 billion tenge. Financing of regional grain cooperatives through second-tier banks amounted to about 8.6 billion tenge. Besides, "KazAgro" provided loans from extra budgetary funds. "Thus, at the expense of budgetary and extra-budgetary sources were financed 3363 applications with planting area of 6.5 million hectares, there were purchased nearly thousand units of seeding equipment worth a total of 85.3 billion tenge. For comparison, last year, on the same date, 3220 APC entities were funded, 1278 units of equipment were purchased for 76.5 billion tenge ", - said N. Malelov.
In addition, "KazAgro" supported with loans seed cooperatives. Comparing the dynamics, Nurlybek Malelov noted that since the beginning of 2016 this support was provided to 10 associations in Akmola, North Kazakhstan, Karaganda and Pavlodar regions against two pilot projects last year. The current amount of funding amounted to 8.3 billion tenge.
At the request of the correspondent palata.kz, the head of the holding "KazAgro" assessed credit discipline of borrowers, who have to carry not only one of the most risky businesses, but also to pay in terms of perceptible volatility at the foreign exchange market of Kazakhstan.
"With regard to the payment discipline or the quality of the projects credited by us - the amount of late payments is in the comfort zone. There is nothing there", - said N. Malelov.
Commenting on the exchange rate difference between the tenge and foreign currencies, Nurlybek Malelov praised it as a minimum. "Holding mainly issues loans in tenge, as most of the clients of the holding are representatives of small-medium businesses, and they are less vulnerable in such economical conditions", - he said.
Summarizing the overall credit situation, N. Malelov added that "of course, there are overdue loans".
"But we are working with them, in some cases we restructure them, in other we prolong them, there are other methods, approaches and solutions. The amount of provisions is about 10-12%, we believe it is a comfort zone", - said the Chairman of the Board of "KazAgro".
Zhanar Serdalina
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