A move in this direction was signalled in the new agricultural programme for 2013-20. However, these efforts are only likely to succeed if the current agricultural debt is carefully managed. In the longer run, a deeper liberalisation of the state credit system should be pursued, with a phasing-out of interest rate subsidies and down-scaling provision of public resources for credit. This would require addressing the core issues of why agricultural credit markets malfunction: the high risks in agriculture, the limited collateral opportunities, information asymmetries, and the increased transactions costs in agricultural lending (OECD, 2012c). There has been an apparent multiplication of the functions of KazAgro agencies in recent years.