World Bank to provide $500 million loan to develop Kazakh agricultural industry

Oct 12, 2018 9:00 am

“We are ready to finance the construction of modern farming stations and provide technical support at the Kazakhstan’s state programme on beef farming development until 2027″

 

The final terms of the loan and its purpose will be determined after discussing proposals from the government,” said Permanent Representative of the World Bank in Kazakhstan Ato Brown.

Kazakhstan’s state programme on beef farming development until 2027 was held in high regard by the institution.

Brown presented the 2017 World Bank review on Kazakhstan’s private sector. He noted the importance of developing traditional livestock industries, such as beef and sheep farming, given the substantial meat consumption potential in Russia and China.

Experts also shared their experience in creating a food traceability system for livestock products, which could contribute to the development of Kazakhstan’s meat sector and export potential.

Kazakhstan’s state programme on beef farming development until 2027 was held in high regard by the institution. Brown commended the governmental support allocated towards the modernisation and efficient use of agricultural resources.

The government’s primary programme  remains the development of beef farming.

In particular, Kazakhstan’s comparative advantage is its low cost for meat production. The International Finance Corporation representative Rolf Berndt suggested that when the country evolves into a more mature and competitive beef exporter, Kazakhstan may progress in the world market by competing with Australian and Brazilian suppliers.

The representatives expressed their readiness to finance the development of Kazakhstan’s agricultural sector and agreed to implement joint measures to promote the country’s agricultural products in China’s markets.

Source URL: http://eurasiatx.com/world-bank-provide-500-million-loan-develop-kazakh-agricultural-industry/