National company Food contract corporation finances farmers for sowing

/KASE, April 15, 15/ – National company Food contract corporation JSC (Astana), whose bonds are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following press-release: quote National company Food contract corporation JSC (Food Corporation) continues implementation of the program of forward purchase of grains from agricultural producers (AP) through the spring and summer funding under the guarantees of socio-entrepreneurial corporations (SEC). As of April 9, 2015, Food Corporation received over 1,600 applications from farmers totaling to more than KZT13 bn. After consideration as of the specified date more than 1,570 funding applications worth more than KZT12.4 bn were approved. Out of this volume under SEC guarantees 1,430 applications were received for a total amount of about KZT11.5 bn, which were funded Food Corporation. The total sown area claimed for financing amounted to 1.9 mln hectares. As previously reported, for the implementation of this program KZT17 bn 650 mln were allocated. APs shall fulfill their obligations before November 1, 2015, inclusive, by delivery of grain to grain-authorized companies of Food Corporation. unquote [2015-04-15]