Uzbekistan provides financial carte blanche to agricultural, food sectors

Baku, Azerbaijan, August 15

By Fakhri Vakilov - Trend:

At an extended meeting on the results of the country's socio-economic development in the first half of 2019, the President of Uzbekistan Shavkat Mirziyoyev stated that a financial carte blanche is being provided to the agricultural sector and the food industry, Trend reports citing the Uzbek media.

The head of state emphasized that today, 70 percent of domestic consumer products are created in the agricultural sector and the food industry.

More than 180 types of agricultural products are exported to 80 countries of the world, which provides 20-25 percent of all export earnings. The agricultural sector employs 27 percent of the economically active population.

The official forecast shows that in 2019-2021 it is planned to create 45 agrology complexes, 205 new processing capacities, at least 36,000 hectares of intensive gardens, for which it is planned to direct almost $1 billion.

The president’s decree “On additional measures for the deep processing of agricultural products and the further development of the food industry” dated July 29 of this year provided a detailed decoding of the channels through which financial flows will flow to the domestic agricultural sector and the food industry.

These are World Bank loans for the modernization and competitiveness of agriculture in the amount of $200 million and the development of rural business in the amount of $200 million;

- loans from the Asian Development Bank for the creation of large modern agrology complexes in the amount of $347 million, as well as livestock development in the amount of $150 million;

- loan funds from the Japan International Cooperation Agency for the development of horticulture in the amount of $200 million;

- loan funds from the French Development Agency for the development of livestock in the amount of $170 million;

-credit funds of the International Fund for Agriculture Development for the diversification and modernization of agriculture in the amount of $46.6 million;

- loan funds from the World Bank for the modernization of testing laboratories in the amount of $6.2 million.

The official estimates show that the implementation of investment projects in the agricultural sector and the food industry will double the export of fruits and vegetables in 2021.

---

Follow author on Twitter:@vakilovfaxri

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