Today at the press conference on the development of rural entrepreneurship within the framework of the President's Five Social Initiatives, the chairman of the board of KazAgroGarant JSC, Kairat Makaev, spoke about changes in the credit system and the issuance of guarantees for farmers.

Previously to receive loans farmers had to apply to credit partnerships, microfinance organizations where the projects were considered. When there was a lack of pledges, they applied to KazAgroGarant. A certain amount of time was lost. This year the system has changed.

"Since this year, farmers can directly contact us. Their appeals are considered promptly. With our decision, they can go to financial organizations," Kairat Makaev explained.

The Head of KazAgroGarant JSC calls on farmers not to be afraid and to open their own business within the framework of the Program for Productive Employment and Mass Entrepreneurship, calling its conditions very good.

"If there is a shortage of collateral, you can apply to KazAgroGarant, the farmer will be supported in the form of guarantees that will help to cover insufficient security. Moreover, there is an opportunity to use the rest of the security to replenish working capital for new needs, for business development," Kairat Makaev said.

At the same time, farmers with an operating business can expect 50% of guarantees from the amount of loans, and beginners — 85%.

According to him, today the offices of KazAgroGarant function in all regional centers and in Almaty. Applications for guarantees can be issued in more than 2000 rural areas and 44 small towns.

In 2017, KazAgroGarant issued about 250 guarantees for lending to more than 185 entrepreneurs for a total amount of over 1 billion tenge. In 2018, it is planned to issue more than 1000 guarantees for a total of about 7 billion tenge. Based on the results of the first quarter, decisions were made on 40 guarantees amounting to 210 million tenge.

 

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