ANNOUNCED AS TEMPORARYNo
A press release, published on the official website of the Prime Minister of the Republic of Kazakhstan, dated 28 December 2015, reports about the planned issuance of state guarantees in 2016--2018 that will benefit the Kazakh local agricultural sector.
First, 153 million tenge (ca. 490 million USD) in state guarantees are to be issued in 2016-2018 in order to attract loans from international financial institutions for agricultural projects. This state measure is to be implemented as part of the Anti-Crisis Plan of the Government, approved by Protocol No. 51 of 8 December 2015, signed at a Meeting of the Government.
Second, 300.7 million tenge (ca. 962 million USD) in state guarantees are to be issued in 2016-2018 in order to "to implement priority investment projects of the "KazAgro" aimed at producing and processing of agricultural products, primarily milk and meat', as disclosed by the Minister of National Economy, Mr Yerbolat Dossayev,
The GTA includes state guarantees and other financial incentives that are likely to affect the restructuring and performance of firms facing international competition, whether from imports, in export markets, and from foreign subsidiaries.
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