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Uzbek finance ministry to provide financial support for household lands owners

Uzbekistan Materials 28 January 2021 17:08
Uzbek finance ministry to provide financial support for household lands owners

BAKU, Azerbaijan, Jan. 28

By Klavdiya Romakayeva - Trend:

The Ministry of Finance will allocate 200 billion soums ($19 million) to the Fund for Support of Farmers, dekhkan farms (family farms) and owners of homelands under the council of farmers, dekhkan farms and owners of homelands of Uzbekistan, Trend reports referring to Norma information and legal portal.

It is noted that the funds are allocated through commercial banks at the expense of borrowed funds from international financial institutions and foreign government financial organizations attracted to support the state budget.

According to the information, the funds will be directed in strengthening the material and technical base of Tomorka Khizmati LLC, farms and dekhkan farms, and financial support for the owners of household lands.

In particular, 100 billion soums ($9.5 million) from the allocated funds are distributed in the first quarter of this year. The rest is based on the actual demand in the next quarters.

It was also noted that at least 50 billion soums ($47.6 million) will be allocated for projects in the area of lemon growing through the Turonbank JSCB.

In addition, the resources of the Fund in the amount of 413 billion soums ($39.3 million) were directed to credit lines through commercial banks.

Thus, the Fund will ensure the allocation of loans to finance new projects at the expense of the repaid part of the previously allocated loan funds. The Fund's work is carried out jointly with Microcreditbank JSCB, Agrobank JSCB, and Khalk Banks JSC.

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