Uzbekistan will expand support package for livestock and fisheries projects, Norma.uz said. Each year, 1 trillion soums from the Agriculture Support Fund will be placed with commercial banks for a 10-year term at 6% annual interest.
Khalq Bank and Mikrokreditbank will be able to draw funds from the Fund for Reconstruction and Development in national currency equivalent to $50 million. The funds will be allocated for 10 years, including a grace period, also at 6% annual interest.
Loan applications will be accepted through the Agroplatforma information system. Financing will be provided for terms of up to 10 years, including a four-year grace period, at 10% annual interest:
- Up to 5 billion soums — for establishing livestock and fish-farming complexes, as well as purchasing pedigree cattle and small livestock;
- Up to 20 billion soums — for construction, equipment purchases, and pedigree livestock and fish for enterprises producing pedigree breeding bulls and fish stock.
Loans from international financial institutions, raised through sovereign debt for livestock development, will also be issued to entrepreneurs at 10% annual interest. In the event of default, the outstanding portion will be converted into a commercial loan funded from the bank's own resources, with the money returned to the fund.
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