EAEU countries to launch mechanism of financial support for agrarians

The Eurasian Economic Union (EAEU) will extend the mechanism of financial support for cooperation projects to the agro-industrial sector. This is reported by Kazinform, a partner of TV BRICS, with reference to the Ministry of Trade and Integration of Kazakhstan.

The instruction to work on the relevant initiative was given by the heads of governments of the EAEU countries.

The news agency recalled that since 2024, the association has a mechanism for subsidising interest rates on loans issued for the implementation of joint cooperation projects. Initially, it was focused exclusively on the industrial sector, but the heads of state and government of the EAEU have repeatedly stated the need to expand this tool.

The priority areas of support include:

• crop breeding and seed production;

• sustainable development of livestock breeding;

• processing of agricultural products;

• development of agro-industrial complex (AIC) infrastructure.

Now the Eurasian Economic Commission (EEC) is working on updating the regulatory framework and developing a separate regulation that will set out the criteria for selecting projects and the conditions for obtaining funding. The results of this work will be presented at the next meeting of the Eurasian Intergovernmental Council.

According to the Ministry of Trade and Integration, the introduction of support mechanisms in the agro-industrial complex will allow Kazakh farmers to introduce modern agro-technologies and strengthen food chains.

Photo: iStock