Modernization of the agricultural sector

Over 3.1 trillion tenge allocated on ‘Agribusiness 2020’ implementation in Kazakhstan

3 122.2 billion tenge has been allocate on the implementation of “Agribusiness 2020” program, the press service of the Ministry of Agriculture reports.
Kazakhstan28 December , 11:38

“In general, 3 122 2 billion tenge has been allocated for the realization of "Agribusiness 2020" program for 2013 - 2020. The program also provides increase in state support of agriculture 4.5 times by 2020,” a statement reads.

This year 123.6 billion tenge has been allocated from the national budget for this purpose. As of December 1, 2013, 105.4 billion tenge has been developed.

“The program, along with the existing government support measures (subsidies of agricultural industries, preferential loans, provision of services free of charge) new instruments of government support in the form of financial recovery, investment subsidies, insurance and loan guarantee, and measures are being taken to improve the mechanism of mandatory crop insurance and livestock insurance introduction,” a statement reads.

Implementation of the program will create favorable conditions for business development in rural areas and will encourage investment in the sector.