Kyrgyzstan Secures $45 Million IsDB Loan to Boost Agricultural Mechanization

Kyrgyzstan has signed a $45.11 million agreement with the Islamic Development Bank (IsDB) to support the modernization of its agricultural sector, according to the Ministry of Agriculture.

The loan funds will be used to support the country's agricultural sector by providing agricultural machinery on lease, The Caspian Post reports, citing Kyrgyz media.

The project will be implemented through Aiyl Bank OJSC and Eldik Bank OJSC, which significantly updates the fleet of machinery of rural producers.

What is planned to be purchased at the first stage:

600 tractors of various brands and modifications;

100 grain and forage harvesters;

About 1000 units of agricultural machinery and equipment, including machinery for processing plants.

The project is aimed at meeting the current needs of farmers and takes into account global trends in the field of agricultural mechanization. It is expected that its implementation will increase the productivity of agricultural producers and will also contribute to the development of the processing industry.