TASHKENT, Uzbekistan, February 15. World Bank to issue working capital loans, as well as credits for 10 years for Uzbekistan's agriculture projects, Trend reports.
This was announced at a meeting on utilizing new reserves and priorities in agriculture for 2024 organized by Uzbekistan's president Shavkat Mirziyoyev.
It is planned to increase the production of 25 most demanded types of agricultural products, for which 342 projects with a total cost of 7 trillion soums ($567.1 million) have been developed.
The task has been set to attract production of 5 international brands in the next two years. The companies will receive subsidies of up to 500 million soums ($40,507) for the placement of production, as well as cover the cost of attracting partners.
It is planned to utilize $655 million of foreign investments in agriculture this year and new projects worth $500 million will be launched.
Meanwhile, Uzbekistan plans to allocate $315 million to expand meat and dairy production.
The goal is to help entrepreneurs establish livestock farms, purchase small and large cattle, and produce fodder. Funds will be provided at 17 percent per annum for up to 10 years with a three-year grace period.