The Guarantee Fund helped the sugar industry raise $25 million at 10 per cent per annum

Thanks to the involvement of the Guarantee Fund, enterprises in Kyrgyzstan’s sugar industry have been able to secure $25 million in financing at an annual interest rate of 10 per cent. This was announced by Alexander Mikhin, a spokesperson for the ‘Kaindy’ group of companies.

Over the past 14 years, more than $30 million has been invested in the sector’s enterprises. These investments have made it possible to reduce fuel consumption and increase sugar beet yields.

Enterprises in the sector work directly with more than 4,000 farms.

The company supplies farmers with seeds bred in Europe and is also introducing digital tools to track the volume of harvested crops, payments due and payment schedules.

Projects are also being implemented in the sector to reduce dependence on natural gas through the use of biogas and biofuels.

Furthermore, the company plans to develop vertical integration, including modern irrigation systems, to reduce production’s dependence on seasonal factors.

According to a company spokesperson, the key performance indicator for the sugar industry is the amount of sugar obtained per hectare, which takes into account both the yield and the sugar content of the beet.