In 2003 crediting of agricultural producers by Bank CenterCredit grew three times to KZT9.6 bn.

10.03.04 19:19
/Kazakhstan today, 10.03.04/ - Bank CenterCredit OJSC extends its participation in the program of agriculture support. As KZ-today has been informed in the bank's press-service, in 2003 agricultural producers crediting increased three times to KZT9.6 bn. In the bank's loan portfolio credits given to agriculture equaled to 18%. The indicator exceeded the level of 2002 by KZT6.3 bn. Bank's loan portfolio in total credit investing into the country's agriculture is equal to 8% that is more two times than volumes of 2002. The bank gave KZT1.3 bn. from total sum for small and medium business subjects specializing in agriculture. Last year grain receipts were used as the pawn instrument for crediting. Thus, the bank has given a loan to VITA LLP for $3 m. against grain receipts. Besides, Bank CenterCredit uses funds of the program borrowing of Asian Development Bank for giving credits to agricultural production manufacturers. Besides, since November of 2002, within the framework of realization of the first tranche of the credit line of the World Bank, Bank CenterCredit financed agricultural projects for more than $1.1 m. Bank CenterCredit OJSC is an active participant of the program "Postprivatization support of agriculture", which is realized by the ministry of agriculture and the World Bank. Within the framework of its first phase Bank CenterCredit invested more than KZT498 m., which were a quarter of total volume of corresponding credit line. In 2005 the bank intends to take an active part in the working out of the next tranche given by the World Bank. In 2003 there were financed 12 companies for a total of $1.6 m. within the framework of this program. [2004-03-10]