“Agrarian Credit Corporation” JSC has opened a credit line for VTB Bank (Kazakhstan) for the amount of 4 billion KZT to continue financing projects of the agro-industrial complex. Now agricultural producers can get concessional loans from VTB as part of “Agrobusiness” Program with a maximum rate of return 6.8% per annum.
- Our Bank currently participates in 12 state programs aimed at the support of a great variety of areas of entrepreneurship: from small business to large export-oriented projects. And, of course, we have paid attention to the agricultural sector which provides the population of Kazakhstan with vital food products, - Chairperson of the Management Board of VTB Bank (Kazakhstan) Dmitry Zabello said. – Agribusiness is a complicated area of entrepreneurship which involves significant risks, and concessional loans can benefit the area greatly. We are glad that signing this Agreement with “Agrarian Credit Corporation” JSC will promote development of this sector.
The terms of “Agrobusiness” Program indicate the priority areas of agriculture, which the Bank will give preference to when making decisions on allocation of the funds. These areas include: dairy production, poultry and pig breeding, plant production (vegetables and fruits), and projects for processing of meat, fish and plant products. Selection of the areas can be explained by considerations of strengthening the food security of the country. Entrepreneurs working in these areas will be able to receive funding for purchase of fixed assets, including modernization of facilities, performance of construction and installation works, and replenishment of current assets.
Subsidiary VTB Bank JSC (Kazakhstan) is member of VTB international financial group. The Bank has successfully worked more than 9 years in the financial market of Kazakhstan. To date, Subsidiary VTB Bank JSC (Kazakhstan) has a branch network, consisting of 17 affiliates, located in all regions of the country. According to S&P Global Ratings, VTB (Kazakhstan) has one of the highest credit ratings among all second-tier banks of Kazakhstan. The Bank's Central Office is located in Almaty. The license of the National Bank of the Republic of Kazakhstan No.1.2.14/39 dated December 23, 2014.
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