"Industrial Development Fund" JSC provided funding for the Program of preferential leasing of agricultural machinery

As part of the implementation of the Program for preferential leasing of agricultural machinery (hereinafter referred to as the Program), Industrial Development Fund JSC (hereinafter referred to as the Fund) attracted 30 billion tenge from Zhasyl Damu JSC.

These funds will be used to fund KazAgroFinance JSC on preferential terms for further leasing of agricultural machinery to agricultural producers.

To implement the Program, Kazakh manufacturers of agricultural machinery have prepared more than 1,500 units of tractors and combines, which will satisfy the current demand for new productive machinery.

Favorable conditions of the Program (remuneration rate of 6%, no advance payment, leasing period of up to 10 years and a grace period for repayment of the principal debt) will allow farmers to release working capital and effectively plan expenses during the harvesting campaign.

After the full disbursement of the allocated funds, further financing under the Program, which is designed for 20 years, will be made on a revolving basis, payments from the repayment of the existing lease will be redirected to conclude new financial leasing agreements.