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ADB And KazAgro Negotiate On Expanding Cooperation

Wednesday, July 5, 2017 - 13:38

The capital of Kazakhstan has hosted a meeting of representatives of the National Managing Company “KazAgro” and ADB (Asian Development Bank). The parties expressed their readiness to expand cooperation in developing the agro-industrial complex of the republic. According to the press service of KazAgro, the meeting was attended by the Chairman of the Board of KazAgro, Nurlybek Malelov, and ADB Deputy President Divakar Gupta. The topic of discussion of the negotiating parties was a wide range of topical issues related to the development of agriculture in Kazakhstan and the financing of sectoral projects.

 

In particular, they talked about financing the private sector through funding the infrastructure of KazAgro within the framework of projects related to agribusiness, and about joint financing and major investment projects aimed at developing the country's food industry while expanding the marketing opportunities of agricultural producers. In addition, the parties discussed the development of a joint program to support and promote entrepreneurship in rural areas. This also involves the development of a methodology for such financing, a structured finance system, risk assessment and the introduction of such a methodology through private financial structures to expand the channels for the delivery of money.

 

Representatives of both the National Holding “KazAgro” and the Asian Development Bank also discussed the possibilities of strengthening credit partnerships and private micro-credit organizations engaged in the agrarian sector of the republic. They also considered the prospects for cooperation in the privatization of a number of holding subsidiaries transferred to a competitive environment.

 

According to head of “KazAgro” N. Malelov, the cooperation with the Asian Development Bank is currently at the most active stage. He also underlined the flexible approach to the consideration of the projects and their possible financing.



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