BAKU, Azerbaijan, Jan.15
By Nargiz Sadikhova - Trend:
Kazakhstan’s KazAgro National Management Holding concerned with promotion of industrial development of country’s agro-industrial complex has allocated 477 billion tenge ($1.2 billion) in 2019 to fund country’s agro-industrial ventures, Trend reports with reference to the Holding.
Over 448 billion tenge of the sum accounted for agriculture machinery leasing ($1.18 billion) and nearly 29 million tenge accounted for grain purchase ($444 million), which is 1.8 percent and 93 percent more than in 2018 respectively.
Loan portfolio of the holding amounted to 886 billion tenge ($2.3 billion), whereas the number of borrowers amounted to 77,000.
“At the same time the share of small and medium business among the borrowers amounted to 97 percent. Some 37,000 rural residents were employed due to the financial support of the holding,” the report said.
Some 56 investment projects worth 84 billion tenge ($221.4 million) were funded in 2019. Some 24 projects of them worth 21 billion tenge ($55.3 million) were launched in 2019.
Some 31 investment projects worth 56 billion tenge ($147.6 million) will be launched in 2020.
Last year, KazAgro Holding has completely paid off its currency liabilities and introduced a transformation program, which oversees breakeven results of 2020.
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