Food production projects to be supported by investments worth 500 bln tenge in Kazakhstan

Development Bank of Kazakhstan JSC announces the launch of a new Program to support investment projects in the agro-industrial complex, food and beverage industry for 2024-2029, El.kz reports.

The total amount of funding under the program will be 500 billion tenge. The main goal of the program is to support investment projects focused on the processing of agricultural products in order to replace imports and expand exports. Two investment projects have already been approved under this program - a poultry farm for meat production and the modernization of an oil plant for the production of packaged refined vegetable oil.

The program was developed in accordance with the message of the Head of State to the people of Kazakhstan dated September 1, 2023, where the goal is to increase the share of processed products in the agro-industrial complex to 70%, as well as as within the framework of the implementation of the Government Plan to ensure economic growth.

Also, Development Bank of Kazakhstan is considering a number of projects for deep processing of wheat grain, corn, for the development of poultry farms for meat production, the construction of a greenhouse complex and the expansion of a confectionery factory, as well as the formation of an export agro-industrial cluster.

Conditions for providing financing for projects in the field of agriculture and food industry:

The amount of financing is from 3 billion tenge.

The loan term is from 5 to 20 years.

In addition, in order to implement major projects in the field of agro-industrial complex processing and food industry, Development Bank of Kazakhstan is interested in joint financing of projects with both second-tier banks and foreign and international financial institutions.

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