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Application of international experience of financial and credit support to agricultural producers in the Kyrgyz Republic


Okenova A.O.
(about the author)

Okenova Aygul Omurbekovna – (Institute of Economics after A.Alyshbaev (Kyrgyz Academy of Sciences ))

Published in:
Journal of Central Asia Economy
– Volume 1, Number 4 (October-December 2017)

JEL classification: O53, Q14, Q18

Keywords: agrarian policy, agriculture, bonifisation, concessional lending, crediting, financial regulation, interest rate, lending institutions, state support


Citation:
Okenova A.O. (2017). Application of international experience of financial and credit support to agricultural producers in the Kyrgyz Republic. Journal of Central Asia Economy, 1(4), 195-206. doi: 10.18334/asia.1.4.38724


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Abstract:

We consider international experience of the relationship between the state and agricultural sector, and experience of bringing public and private financial and credit resources to agricultural producers. The current status of Kyrgyzstan, unlike most other former Soviet republics, exists in "survival" mode. In such conditions, there is a need to revise the state strategy in agro-industrial complex, taking into account domestic and foreign experience in building the relationship between the state and the agricultural sector. That is why today the creation of direct relations between the rural commodity producer and credit organizations on the basis of mutually beneficial cooperation as in some foreign countries is the main issue in the field of credit support system to agricultural producers in conditions of integration. At the same time we need to take into account the mediating role of the state. In the market system of agricultural crediting we need to take into account the specifics of the mechanism for lending to agricultural producers of various categories of farms. Given the world practice of credit support to farmers, it is advisable to introduce in the market system of agricultural lending a new model adapted to the conditions of integration. We suggest improving the system of financing and crediting of agriculture of the Kyrgyz Republic with the aim of improving the current state of the agricultural sector though the use of world experience.








References:
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Melkov Yu.I., Skorova L.A. (2009). Zarubezhnyy opyt gosudarstvennoy kreditno-finansovoy podderzhki selkhoztovaroproizvoditeley [Foreign experience of state credit and financial support to agricultural producers]. “Finansovye issledovania”. (6). 11-14. (in Russian).
Nekhamkin A.N., Zaytsev I.I. (2008). Kreditovanie agrarnogo sektora: problemy, perspektivy razvitiya [Lending to the agricultural sector: problems and development prospects] Bryansk: Lado mir. (in Russian).

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