National Holding "KazAgro" will create Fund of agrarian investments to support investment and development of agribusiness industries, said Banu Yergaliyeva, managing director of KazAgro National Management at a briefing in the Ministry of Agriculture, BNews.kz correspondent reports.
"By the end of this year, we plan to establish a fund in conjunction with the «FPP Asset Management » management company. The company has experience in the agricultural sector and in the CIS. It will be the first project in Kazakhstan. The company's activities will focus on the job with the existing projects and projects in different directions, such as animal husbandry, crop production, food processing and so on," said the managing financial director of "KazAgro."
The initial capitalization of the project is planned at the level of 50 mn dollars. It will be increased to300 mn dollars.
"The new fund is created by "KazAgro" completely. «FPP Asset Management» is involved as a management company. We plan to attract investors from the second or third year of existence of the fund. 50 mn is a mix of public funds and borrowings," explained B.Yergaliyeva.