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The document ceased to be valid since February 24, 2016 according to Item 1 of the Order of the Government of the Republic of Kazakhstan of January 30, 2016 No. 43

ORDER OF THE GOVERNMENT OF THE REPUBLIC OF KAZAKHSTAN

of August 5, 2014 No. 900

About approval of Rules of subsidizing within guaranteeing and loans insurance of subjects of agro-industrial complex

According to subitem 10-2) of article 5 of the Law of the Republic of Kazakhstan of July 8, 2005 "About state regulation of development of agro-industrial complex and the rural territories" the Government of the Republic of Kazakhstan DECIDES:

1. Approve the enclosed Rules of subsidizing within guaranteeing and loans insurance of subjects of agro-industrial complex.

2. This resolution becomes effective after ten calendar days from the date of its first official publication.

Prime Minister of the Republic of Kazakhstan

K. Masimov

Approved by the Order of the Government of the Republic of Kazakhstan of August 5, 2014 No. 900

Rules of subsidizing within guaranteeing and loans insurance of subjects of agro-industrial complex

1. General provisions

1. These rules of subsidizing within guaranteeing and loans insurance of subjects of agro-industrial complex (further - Rules) are developed according to the Development program of agro-industrial complex in the Republic of Kazakhstan for 2013 - 2020 "Agrobusiness - 2020", the Republic of Kazakhstan approved by the order of the Government of February 18, 2013 No. 151, and determine procedure for provision of the state support to subjects of agro-industrial complex (further - subjects of the AIC) in case of insurance and guaranteeing loans.

2. Main objectives of subsidizing within guaranteeing and loans insurance of subjects of the AIC are expansion and ensuring access of subjects of the AIC to credit resources.

2. Terms and determinations

3. In these rules the following terms and determinations are used:

1) administrator - Ministry of Agriculture of the Republic of Kazakhstan;

2) working body - Deraptment of Agriculture of akimats of areas, cities of Astana, Almaty;

3) the guarantor - the financial institutions having the corresponding license for the right of implementation of banking activity, the financial organizations, and also social business corporations of regions;

4) the agreement of guaranteeing/insurance - the written agreement signed between the borrower and the guarantor / insurance company on the terms of these rules;

5) amount of guarantees / insurance sum - the amount of money on which the guarantee is issued or is insured the part of the credit which is limiting scope of responsibility of the guarantor / insurance company before the creditor in case of approach of right to claim;

6) payment for guarantee / insurance payment - the cash amount paid by the guarantor / insurance company to the creditor within the guarantee amount / insurance sum in case of approach of right to claim;

7) the commission on guarantee / insurance premium - cash amount which the borrower shall pay to the guarantor / insurance company for adoption by the last of obligations to make payment to the creditor of the guaranteed/insured part of the credit in case of approach of right to claim;

8) subsidizing of part of the commission on guarantee - the form of the state support directed to compensation of the part of the commission paid by borrowers to guarantors, providing risk of non-return of part of the credit;

9) the Commission - permanent advisory advisory body, authorized to make decisions on provision/refusal in provision of subsidizing during the guaranteeing and loans insurance;

10) the borrower - the subject of the AIC according to the legislation;

11) the credit (loan) - the amount of money provided on the terms of the paid nature, urgency and recoverability by the creditor to the borrower on replenishment of current assets;

12) the creditor - banks of the second level, the affiliated organizations of joint-stock company "National managing holding "Kazagro", and also the credit institutions having the corresponding license for the right of implementation of banking activity;

13) operator - Kazagromarketing joint-stock company;

14) insurance company - the company performing insurance and obliged in case of loss occurrence or other event determined by the insurance contract to make insurance payment within insurance sum to the creditor for benefit of whom the agreement is signed;

15) subsidizing of part of insurance premium - the form of the state support directed to compensation of part of the insurance premium paid by borrowers to the insurance companies providing risk of non-return of part of the credit;

16) right to claim - event with which approach the agreement of guaranteeing/insurance provides implementation of payment for guarantee/insurance.

3. General terms of subsidizing of part of the commission on guarantee / insurance premium

4. The credits issued on replenishment of current assets for implementation of agricultural activities according to the priority directions of development of the AIC according to appendix 1 to these rules are subject to subsidizing of part of the commission on guarantee / insurance premium.

Distribution of the amount of subsidies within one commission session assumes complete satisfaction of requirement of the higher direction before transition to satisfaction of requests of the following direction and other types of agricultural activities which are not included in the priority directions of development of the AIC specified in appendix 1 to these rules.

On the credits issued on replenishment of current assets to processing enterprises only the companies which are engaged in the types of activity provided in appendix 2 to these rules are subject to subsidizing of part of the commission on guarantee / insurance premium.

Distribution of the amount of subsidies within one direction of priority is performed depending on date of submission of the request by the borrower.

5. Subsidizing of part of the commission on guarantee / insurance premium on earlier obtained credits is not allowed.

4. Conditions of subsidizing of part of the commission on guarantee / insurance premium

6. Guaranteeing and insurance of the credits with remuneration rate no more than 14 (fourteen) annual interest rates in tenge are subject to subsidizing.

7. Guaranteeing can be performed to 100 (hundred) percent from credit amount, at the same time the commission added for 50 (fifty) percent from credit amount is subject to subsidizing.

8. When guaranteeing the credit the commission on guarantee in the amount of 50 (fifty) percent is subsidized, at the same time the maximum amount of subsidies shall not exceed 3 (three) percent from subsidized part of amount of guarantee.

9. The insurance sum cannot be more than 50 (fifty) percent from credit amount.

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