JICA to provide Uzbekistan with soft loan

Finance Materials 13 April 2020 17:00 (UTC +04:00)
JICA to provide Uzbekistan with soft loan

BAKU, Azerbaijan, Apr. 13

By Ilkin Seyfaddini – Trend:

Japan International Cooperation Agency (JICA) will provide Uzbekistan with a 23 million Japanese yen (equivalent to $213.1 million) loan, Trend reports citing Uzbek media.

This loan will be provided under agreement, which Uzbekistan and the Japan International Cooperation Agency (JICA) signed in December 2019.

The document covers main indicators, the scheme of repayment of borrowed funds, and the road map for implementation of the project on development of value chain in the sector of horticulture.

The agreement provides for granting, through commercial banks, of soft loans worth $196.6 million for a period of up to 10 years (with a grace period of up to five years) to business entities operating in the country's horticulture sector at a rate of seven percent and 19 percent in sum.

The Agro-Industrial and Food Supply Agency is considered to be the main executive body responsible for the timely and complete implementation, coordination and management of the project.

The project aims at further deepening reforms in agriculture, improving the financial sustainability of farms and agricultural organizations, increasing the production of competitive fruit and vegetable products, and expanding cooperation with the Japan International Cooperation Agency.


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