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

Okenova A.O.1
1 Институт экономики им. акад. Дж. Алышбаева Национальной академии наук Кыргызской Республики, Kyrgyzstan

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Journal paper

Journal of Central Asia Economy (РИНЦ, ВАК)
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Volume 1, Number 4 (October-December 2017)

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. https://doi.org/10.18334/asia.1.4.38724

Indexed in Russian Science Citation Index: https://elibrary.ru/item.asp?id=38306728
Cited: 3 by 05.09.2022

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.

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

JEL-classification: Q18, Q14, O53

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References:

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Globfin. (in Russian). Retrieved from http://www.globfin.ru/articles/finsyst/china.html
Korobeynikov M. (2002). Zarubezhnyy opyt finansirovaniya agrarnogo sektora i vozmozhnosti ego ispolzovaniya v Rossii [Foreign experience in financing the agricultural sector and the possibility of its application in Russia]. International journal of agriculture. (3). 20. (in Russian).
Kuzmin I. (2001). Finansovo-kreditnoe obespechenie selskogo khozyaystva v razvityh stranakh [Financial and credit support to agriculture in developed countries]. Mezhdunarodnyy selskokhozyaystvennyy zhurnal. (1). 32. (in Russian).
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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