Loan rates for farmers will be reduced in Kyrgyzstan in 2017, the head of the Kyrgyz government Sooronbay Jeenbekov announced.
Loans for the treatment and processing of agricultural products, export-oriented agricultural production will be issued at 6% per annum for three years.
Compared to 2016, the rate has been reduced by 4%. It stipulates for the provision of state support in the form of subsidies to three branches of agriculture: animal husbandry, crop production and processing industry.
Since 2013, 53,590 preferential loans valued at 17.1 billion soms have been issued.
As a result, it was decided to issue loans for animal husbandry at 6% for 18 months, for crop production – at 10% for 24 months, and for processing and treatment of agricultural products – at 6% for 36 months.
Up to 7 billion soms will be allocated from the state budget for preferential loans program in 2017. (24.kg/Business World Magazine)