BAKU, Azerbaijan, Nov. 5
Trend:
The Fund for State Support to Agriculture of Uzbekistan will receive $100 million from the Fund for Reconstruction and Development of Uzbekistan through the Ministry of Finance, Trend reports referring to Uzbek media.
According to the information, this measure is envisaged by the President's decree "on ensuring the continuity of financing of expenditures of state support for agriculture", adopted on November 2, 2021.
It is reported that funds are allocated in national currency for a period of five years on an interest-free basis to finance the costs associated with state support for agriculture.
The Ministry of Finance was instructed to ensure in 2026 the reimbursement of 1.5 trillion soums ($140 million) of credit resources allocated by the Fund for Reconstruction and Development at the expense of the republican budget for the unpaid part of commercial banks.
At the same time, the obligations of the authorized banks in the amount of the covered funds to the Fund for Reconstruction and Development are reissued in favor of the Ministry of Finance.
In addition, the period for the return of funds allocated to the Ministry of Finance on an interest-free basis in accordance with paragraph 1 of this resolution has been extended until 2026.
It was also established that the refund is made at the expense of the republican budget and other funds not prohibited by legislative acts.