In February Bai-Tushum Bank launches the next financing facility for beet growers in Chui province
In February Bai-Tushum Bank launches another financing facility for the farmers that grow sugar beet in Chui province under the partner agreement concluded with Kaiyndy-Kant OJSC factory, as well as in connection with the plans to expand value chain financing. The Bank provides finance to clients, who have concluded agreements for the purchase of seeds and supply of harvest with Kaiyndy-Kant OJSC factory.
Sweet Harvest loan provides for the financing of a complete beet growing cycle, including the purchase of seeds from the factory, fertilizers, pesticides, payment for weeding, irrigation, sugar beet harvesting and transportation services. The finance facility is granted to farmers in tranches, which enables to reduce the costs associated with the payment of loan interest. In addition, loan approval process takes 1-2 days, and the agreement concluded with Kaiyndy-Kant OJSC serves as 50% collateral under the loan. The farmers, who complete training under GIZ programme are granted 1% discount.
The farmers that participate in the financing programme can also get discounts from the programme partners: Baijer LLC, Janar-Group LLC and Trade-Agro LLC that sell fertilizers, pesticides and render agrotechnical services.
For detailed information about finance conditions and programme partners please go to: http://www.baitushum.kg/ru/retail-banking/loan-products/sweet-loan/
About Kaiyndy-Kant OJSC:
Kaiyndy-Kant OJSC is nowadays the only operating producer of white sugar in Kyrgyzstan. The daily processing capacity of the factory constitutes 3,000 tons of sugar beet. Kaiyndy-Kant OJSC collects sugar beet through the eight beet collection points located in Chui province.