KazAgro allocates $554 million to finance the national agriculture sector before July 1

By July 1, 2011 KazAgro National Company had allocated a total of $554 million to finance the national agriculture sector, Tengrinews.kz reports, citing the national company.Funds allocated for the like period of 2010 made up $523 million, according to the Press Service of KazAgro.The funds were used to extend loans to agricultural producers and to help finance lease operations in the sector. $467 million went to extend loans, 10.6% up against the like period of 2010. KazAgro National Company is working to put in place a network of lending facilities and to encourage cooperation of agribusiness players in producing, processing, storing and distributing agricultural products.