Kazakhstan Agrarian Credit Corporation (part of JSC National Managing Holding KazAgro) has reached an agreement with the Israeli agro consortium Polevoi Group on investing in the agroindustry of Kazakhstan to $ 1 billion.
The parties signed an agreement on the terms of co-financing and providing guarantees for the planned projects in the sphere of agro-industrial complex.
Polevoi Group intends to participate in the implementation of projects in all sectors of Kazakhstan's agriculture by providing long-term loans, as well as co-financing up to 85% of the cost of projects.
Investments will be directed, in particular, to projects for the processing of meat and dairy and fruit and vegetable products, the creation of greenhouse and fish farms, the construction of modern storage facilities and cooling systems, the installation of irrigation systems, and the organization of supplies of manufactured products to foreign markets. Agrarian credit corporation JSC was established by the resolution of the government of Kazakhstan in 2001. The main objective is to promote industrialization and diversification of the agrarian sector through the development of an affordable credit system for the subjects of the agro-industrial complex of Kazakhstan.