ASTANA, Kazakhstan, November 14. This year, the value of subsidized loans for agriculture in Kazakhstan has, for the first time in the country’s history, exceeded 1 trillion tenge (approximately $1.91 billion at the current exchange rate), President Kassym-Jomart Tokayev said at the 2nd Forum of Agricultural Workers. Trend reports via the press service of the Kazakh president.
Tokayev highlighted that this amount is ten times higher than it was five years ago.
“To ensure the accessibility of financing, a mechanism for providing guarantees to banks by the authorized body was introduced. This year, the Damu Fund provided guarantees for 1,300 loans. This has helped resolve issues for many farmers, especially those engaged in small and medium-sized businesses, who lack sufficient collateral to secure loans,” the president said.
He also noted that the distribution of domestic agricultural machinery has started under a simplified, subsidized leasing program. According to Tokayev, this has proven to be an effective solution for modernizing outdated equipment
“Four years ago, the wear and tear on agricultural machinery was at 90 percent, but this year, the figure has dropped to 70 percent,” he added.
President Tokayev further revealed that 19 types of machinery are assembled at 10 factories across the country, including facilities of globally recognized brands.
“During my recent working visit to the United States, a strategic partnership agreement was signed with John Deere for a total of $2.5 billion. As a result, approximately 3,000 units of modern machinery will be produced in Kazakhstan over the next five years,” Tokayev stated.
According to the official exchange rate of the National Bank of Kazakhstan as of November 14, 2025, 1 USD equals 524.32 KZT.