Over two hundred agricultural manufacturers have availed new type of lax credit line opened in April of the current year. The Peasants’ Associations, private agricultural producers, landowners of the Turkmen Agricultural University became the recipients of credits to the total sum of nearly 11.5 million manats. These credits were issued by “Daykhanbank” and “Turkmenistan” State Commercial Bank of Turkmenistan.
Lax crediting for toilers of the village, which mechanisms are successively improved, is practiced in the country over five years. Model example of it became new procedure of issue of lax credits to the representatives of agricultural industry worked out in accordance with the Resolution of the President of Turkmenistan “On financial support of the manufacturers of agricultural products” dated from March 6 of this year.
Lax credit is issued for purchase of agricultural machinery, instruments and devices, water saving technique, equipment, irrigation water supply systems within 10 years on terms of annual repayment in equal shares proceeding from their operating time with annual rate in 1%. Financing of agricultural investment projects connected with the development of cattle-breeding and poultry farming, production and processing of agricultural products and rendering the services as well as purchase of permanent assets and property within 10 years under 5% a year is also liable to new type of lax crediting.
Owing to the funds obtained in different parts of the country, it was started the active work connected in particular with increase of production of plant growing products, increase of fertility of soils and development of new lands. The agricultural manufacturers purchased tens of vehicles and agricultural equipment.
For example, having got a lax credit, the agricultural manufacturers from the Peasants’ Associations of five etraps of Dashoguz province – Gubadag, Gorogly, Koneurdench, Ruhubelent, named after S. Turkmenbashi used the funds for purchase of two tens of powerful tractors of “AXION 850” brand produced by the German “CLAAS” company provided with ploughs of “EurOpal 9 5 N 100” brand.
Owing to the credit funds, one and a half tens of tractors and as many ploughs from famous manufacturers “LEMKEN,” “CLAAS” and “Case” were purchased by the Peasants’ Associations of Seydi, Serdarabat, Garabekevil, Atamyrat etraps of Lebap province.
Landowners purchase modern tractors for increase of efficiency of the hectare. Owing to them, the farmers plan to increase the production volume of wheat, cotton and rice. In all expenditures for production and possibilities, the realization of the payments in time, financial calculations of manufacturers testify about obtaining of considerable income.
There are bright examples how other major sectors of agriculture - poultry keeping and livestock sector also gain new phase of development owing to use of the lax bank credits. One of such examples is the production raised at high level in “Yunus Dayhan” Peasants’ Association in Serdarabat etrap of Lebap province. In 2011, the funds obtained according to the lax crediting procedure, which is in force since 2008, were directed to the construction of poultry farm with five thousand laying hens and essential equipment for their keeping. Moreover, the production of wheat on 125 hectares and granary for grain keeping was adjusted and constructed owing to the lax credit.
In the current year, according to new procedure of lax crediting, “Yunus Dayhan” got the funds, which were used for development and increase of production of meat, eggs and wheat as well. So, in June, it was purchased five thousand laying hens and in October, this number will be increased with another four thousand ones. Besides, the cotton is grown on 58 hectares of land and area under wheat cultivation was expanded considerably. In whole, expected clear profit from production in this year has increased by three times as compared with 2011.
The number of persons, who desire to get lax credits in the banks of the country, is increasing. The conditions of crediting are very beneficial. Minimal annual rates and long repayment terms are vivid evidence of this fact. The greatest quantity of clients for obtaining of credits for agrarian production file their applications and investment projects to “Daykhanbank” SCBT – banking structure oriented to the cooperation with agricultural manufacturers. Today, 56 departments of this bank, including 50 etrap and 5 vilayet branches as well as central capital’s office in the country implement active partnership with the representatives of agrarian production.
According to new procedure of lax crediting, all state commercial banks of Turkmenistan are authorized to realize the activity with the clients at the expense of own and debt funds as well as at the expense of means of the Central Bank of Turkmenistan by opening of line of credit. The credits are issued in cashless form by opening of certain line of credit and loan account, and payment of remittance orders of the agricultural manufacturers from this account in compliance with fixed purposes. Landowners and leaseholders are able to obtain a credit by cash if their purpose is the purchase of cattle, poultry, seedlings and seeds from population. In case of need, a grace period can be determined for all credits of this order.
In contrast to earlier existent systems of crediting, the possibility of getting new credit extends to wide circle of agricultural manufacturers – the peasants’ associations, farming corporations, agricultural joint stock companies, landowners, leaseholders, agricultural research institutes.
Lax crediting for toilers of the village, which mechanisms are successively improved, is practiced in the country over five years. Model example of it became new procedure of issue of lax credits to the representatives of agricultural industry worked out in accordance with the Resolution of the President of Turkmenistan “On financial support of the manufacturers of agricultural products” dated from March 6 of this year.
Lax credit is issued for purchase of agricultural machinery, instruments and devices, water saving technique, equipment, irrigation water supply systems within 10 years on terms of annual repayment in equal shares proceeding from their operating time with annual rate in 1%. Financing of agricultural investment projects connected with the development of cattle-breeding and poultry farming, production and processing of agricultural products and rendering the services as well as purchase of permanent assets and property within 10 years under 5% a year is also liable to new type of lax crediting.
Owing to the funds obtained in different parts of the country, it was started the active work connected in particular with increase of production of plant growing products, increase of fertility of soils and development of new lands. The agricultural manufacturers purchased tens of vehicles and agricultural equipment.
For example, having got a lax credit, the agricultural manufacturers from the Peasants’ Associations of five etraps of Dashoguz province – Gubadag, Gorogly, Koneurdench, Ruhubelent, named after S. Turkmenbashi used the funds for purchase of two tens of powerful tractors of “AXION 850” brand produced by the German “CLAAS” company provided with ploughs of “EurOpal 9 5 N 100” brand.
Owing to the credit funds, one and a half tens of tractors and as many ploughs from famous manufacturers “LEMKEN,” “CLAAS” and “Case” were purchased by the Peasants’ Associations of Seydi, Serdarabat, Garabekevil, Atamyrat etraps of Lebap province.
Landowners purchase modern tractors for increase of efficiency of the hectare. Owing to them, the farmers plan to increase the production volume of wheat, cotton and rice. In all expenditures for production and possibilities, the realization of the payments in time, financial calculations of manufacturers testify about obtaining of considerable income.
There are bright examples how other major sectors of agriculture - poultry keeping and livestock sector also gain new phase of development owing to use of the lax bank credits. One of such examples is the production raised at high level in “Yunus Dayhan” Peasants’ Association in Serdarabat etrap of Lebap province. In 2011, the funds obtained according to the lax crediting procedure, which is in force since 2008, were directed to the construction of poultry farm with five thousand laying hens and essential equipment for their keeping. Moreover, the production of wheat on 125 hectares and granary for grain keeping was adjusted and constructed owing to the lax credit.
In the current year, according to new procedure of lax crediting, “Yunus Dayhan” got the funds, which were used for development and increase of production of meat, eggs and wheat as well. So, in June, it was purchased five thousand laying hens and in October, this number will be increased with another four thousand ones. Besides, the cotton is grown on 58 hectares of land and area under wheat cultivation was expanded considerably. In whole, expected clear profit from production in this year has increased by three times as compared with 2011.
The number of persons, who desire to get lax credits in the banks of the country, is increasing. The conditions of crediting are very beneficial. Minimal annual rates and long repayment terms are vivid evidence of this fact. The greatest quantity of clients for obtaining of credits for agrarian production file their applications and investment projects to “Daykhanbank” SCBT – banking structure oriented to the cooperation with agricultural manufacturers. Today, 56 departments of this bank, including 50 etrap and 5 vilayet branches as well as central capital’s office in the country implement active partnership with the representatives of agrarian production.
According to new procedure of lax crediting, all state commercial banks of Turkmenistan are authorized to realize the activity with the clients at the expense of own and debt funds as well as at the expense of means of the Central Bank of Turkmenistan by opening of line of credit. The credits are issued in cashless form by opening of certain line of credit and loan account, and payment of remittance orders of the agricultural manufacturers from this account in compliance with fixed purposes. Landowners and leaseholders are able to obtain a credit by cash if their purpose is the purchase of cattle, poultry, seedlings and seeds from population. In case of need, a grace period can be determined for all credits of this order.
In contrast to earlier existent systems of crediting, the possibility of getting new credit extends to wide circle of agricultural manufacturers – the peasants’ associations, farming corporations, agricultural joint stock companies, landowners, leaseholders, agricultural research institutes.
