Kyrgyzstan is set to enhance its agricultural sector with a significant investment of $70 million, thanks to support from the World Bank and the Asian Development Bank (ADB). Bakyt Torobaev, the Deputy Chairman of the Cabinet of Ministers, discussed plans to develop the agriculture sector on the radio.
The country aims to increase the production and sales of agricultural products by encouraging the formation of clusters. "Our task is to unite and boost production volumes, and exports. Developing a cluster policy acts as a stimulus: those who unite receive preferential loans, etc.," Torobaev stated.
The World Bank will provide $30 million in funding next year to support agricultural production for both farmers and large companies. Priority for these loans will be given to cooperatives that cultivate specific types of crops in large quantities.
Additionally, the ADB will contribute $40 million to the sector. This investment will facilitate the establishment of 70 small and medium-sized agricultural facilities, including:
- 5 large trade and logistics centres
- 22 processing enterprises
- 25 refrigerated warehouses
- over 20 procurement points.
Source: tazabek.kg