Flag of Kyrgyzstan

Allocation of 17 Billion Som for Agricultural Cluster Financing Announced by Ministry of Agriculture

in Economy / Kyrgyzstan - by


The Ministry of Agriculture's press service has announced the allocation of 12.8 billion som for the development of 18 clusters, along with an additional 4.2 billion som earmarked for leasing agricultural machinery and breeding stock.

Changes to the conditions for fund allocation include:

- Aggregators can now join multiple clusters and access credit of up to 300 million som, up from the previous limit of 150 million som.

- A contract for the supply of organic products and chicken eggs to cluster entities is no longer required.

- The requirement for aggregators to have at least three years of experience has been replaced with a verified source of income specified in the cluster development council's proposal.

- OJSC "RSC Bank" will join OJSC "Ayyl Bank" in leasing operations starting from 2024.

The Ministry emphasized that the diversification and modernization of the agro-industrial complex through cluster development will result in increased productivity, improved product quality, cost reduction, and enhanced export potential. This initiative is expected to generate new employment opportunities and enhance the socio-economic development of rural areas.