Development Bank of Kazakhstan will provide 23 bln tenge to oilseed processing companiesThe Development Bank of Kazakhstan (DBK) will provide financing of up to 15 billion tenge to Altyn Shyghys and 8 billion tenge to Qazaq-Astyq Group, East Kazakhstan-based oilssed-processing enterprises, to support their export activities, the National Management Holding Baiterek press service said in a statement.A tripartite agreement was signed by DBK, Kazakhstan Export Credit Insurance Company (KECIC), Altyn Shyghys, and Qazaq-Astyq Group."The agreements are part of a new joint program by DBK and KECIC aimed at boosting exports of Kazakh oil and fat products. The first participants in the program are Altyn Shyghys LLP and Qazaq-Astyq Group LLP. The program includes pre-export financing tools and insurance support, which will enable Kazakh enterprises to significantly increase production volumes and expand their presence in foreign markets," the holding’s statement reads.According to the press service, the funds will be used for forward purchases of raw materials from domestic agricultural producers, followed by deep processing and export of finished goods.As noted by Baiterek’s press service, Kazakhstan has 55 enterprises capable of processing sunflower, rapeseed, soybeans, flax, safflower, and cotton, with products supplied to markets in Central Asia, Europe, the Middle East, and China.According to the National Association of Oilseed Processors, exports of Kazakh oil and fat products exceeded 1 million tonnes in the 2023/24 season, marking a 30% increase.By 2025, Kazakhstan expects oilseed cultivation areas to expand by 12.4% to 3.3 million hectares compared to previous years."Exports of vegetable oils and oilseed meal to Central Asia are projected to grow by 6–10%, reaching 580,000–600,000 tonnes, strengthening Kazakhstan’s position as a key regional supplier," Baiterek Holding forecasts.National Management Holding Baiterek JSC is an integrated development institution focused on supporting entrepreneurship, developing the agro-industrial sector, and providing housing for citizens. The Kazakh government is the ultimate beneficiary of the holding.The Development Bank of Kazakhstan, established in 2001, finances medium- and long-term investment projects in infrastructure and non-resource sectors of the economy, facilitating domestic and foreign investment. It operates under the Baiterek state holding. (ICE ALMATY)

Fonte notizia: INTERFAX