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Order No. 436 of the Minister of Agriculture validating the Regulation on subsidizing of interest rates on loans and leasing of technological equipment, for the purchase of farm animals, as well as leasing of agricultural equipment.

Country/Territory
Kazakhstan
Document type
Regulation
Date
2018 (2019)
Source
FAO, FAOLEX
Subject
Agricultural & rural development, Livestock
Keyword
Business/industry/corporations Equipment Financial agricultural measures Subsidy/incentive Contract/agreement Cattle
Geographical area
Aral Sea, Asia, Caspian Sea, Central Asia, CIS (Commonwealth of Independent States), Europe and Central Asia, Landlocked Developing Nations, North Asia
Entry into force notes
This Order enters into force on 1 January 2019.
Abstract

This Order establishes the procedure for subsidizing of interest rates on loans and leasing of technological equipment, for the purchase of farm animals, as well as leasing of agricultural equipment within the limits of the funds provided for in the budget for the current financial year. The main purpose of subsidizing of interest rates on loans and leasing of technological equipment, on purchase of agricultural animals, as well as leasing of agricultural machinery shall be to increase the availability of financial services for the entities of the agro-industrial complex. Subsidization is carried out under a loan agreement for the purchase of agricultural equipment, including mounted and trailed equipment, as well as for the purchase of farm animals, the acquisition of fixed assets, construction (except for loans for the purchase of fixed assets for the production of flour, mineral water and soft drinks) under the following standards, providing for a reduction in interest rates: (a) by 10% (ten) per annum in the national currency tenge; (b) by 8% (eight) per annum in Russian rubles; and (c) by 2 % (two) per annum in another currency. The interest rate is reduced (through subsidies) to 4% (four) per annum, and it is not allowed to decrease below 4% (four) per annum. Subsidizing under the loan agreement is carried out for the entire period of its validity. In this case, under the previously concluded loan agreement - subsidy accrual begins from the date of the decision of the working body on the proposal.

Full text
Russian
Website
adilet.zan.kz

References - Legislation

Repeals

Order No. 50 of the Minister of Agriculture validating the Regulation on compensation rates for subsidies for purchase of agricultural equipment, livestock and leasing of agricultural machinery.

Legislation | Kazakhstan | 2017

Keyword: Financial agricultural measures, Fiscal and market measures, Subsidy/incentive, Equipment

Source: FAO, FAOLEX