340 Billion Tenge in Debt and Months of Waiting: Are Farmers Being Offered Digital Promises Instead of Real Help?

The government has acknowledged problems with financing for farmers, but says they will be addressed gradually through digitalization, Orda.kz reports.

Deputies appealed to Prime Minister Olzhas Bektenov with complaints about the lending system in the agro-industrial sector. According to them, despite state support, farmers still face serious restrictions.

They pointed to long application review periods, the need to collect more than 20 documents, undervaluation of collateral and lending limits that do not cover real costs. The deputies also said subsidy debt had exceeded 340 billion tenge.

The processes of submitting and reviewing applications have still not been fully digitized, the review period reaches three to four months, and the lack of branches reduces small farms’ access to financing. the deputies wrote in their request.

In his response, Bektenov said the country is already introducing digital solutions, including online lending, simplified application procedures and integration with state databases. Remote account opening and scoring systems have also been introduced to speed up the review of applications.

As part of the digital transformation, internal procedures have been optimized, remote identification methods have been introduced, the formation and signing of applications has been automated, and the list of required documents has been reduced through integration with state databases. the prime minister said.

He also said the state is developing a two-stage scoring system that will make it possible to assess borrowers more quickly and reduce the role of the human factor.

For borrowers with a positive credit history, simplified procedures are provided, and preliminary decisions on individual products are made as quickly as possible. he said in response to the deputies.

At the same time, some of the deputies’ proposals, including revising lending limits and resolving the subsidy debt problem, remain under consideration.

Original author: Alina Elgeldina

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