The Eurasian Development Bank (EDB) is opening a $100 million credit line for the Food Contract Corporation joint-stock company of Kazakhstan. This was reported by Qazaqyia.kz citing Sputnik Kazakhstan.
The credit line is intended for purchasing food products and forming stabilization funds. The funds will be used to purchase grain during the harvest season and regulate market prices.
As noted by EDB Chairman Nikolai Podguzov, this step will help strengthen Kazakhstan's food security and support the agricultural sector. "We continue to finance projects aimed at developing Kazakhstan's agro-industrial complex and stabilizing the food market," he said.
The Food Contract Corporation is an organization under the Ministry of Agriculture of the Republic of Kazakhstan. Its main task is to stabilize prices on the food market and form state food reserves.
The credit line will be available until the end of 2026. The funds are to be utilized within 5 years. This financing is carried out within the framework of the state program for ensuring food security in Kazakhstan.
Previously, the EDB has already invested in Kazakhstan's agro-industrial complex. In 2025, the bank allocated $50 million for agricultural projects. The new credit line is aimed at expanding bilateral cooperation.
Kazakhstan's Minister of Agriculture Aidarbek Khojanazarov noted the importance of this financing. "These funds will allow us to purchase grain in a timely manner during the harvest and stabilize prices on the market," the minister said.
The opening of the credit line is expected to contribute to ensuring stability in Kazakhstan's food market and curbing inflation.