During a meeting in Tokyo, Japan, the Uzbek delegation led by Bahrom Norkobilov, Chairman of the State Committee for Veterinary Medicine and Livestock Development, discussed the financing of programmes under the project “Development of Livestock Industry in Uzbekistan”. The Japan International Cooperation Agency (JICA) pledged a generous allocation of $200mn for this cause, as reported by Kapital. uz. A key highlight of their visit was a significant meeting with Sachiko Imoto, the Vice President of JICA. This visit marks an important step in the development of Uzbekistan’s livestock industry.
Focus on leather and footwear industry
Fakhriddin Boboev, Chairman of the Uzchamrsanoat Association, provided JICA with detailed information on the ongoing reforms in Uzbekistan’s leather and footwear industry. He highlighted the country’s experience in the deep processing of raw materials, the production of finished goods, and the investment and export potential of the Uzbek leather industry.
Allocation of funds
The funds raised from JICA will be used to provide soft loans to business entities in various sectors, including cattle breeding, leather industry, fishery, and poultry farming. Of the total funds, $40mn will be directed as soft loans to entrepreneurs operating in the field of leather processing and production of finished products.
Impact on economy
The efficient use of these funds and the implementation of new investment projects are expected to increase production volumes in the sector. This will lead to an increase in exports of finished products with added value. Most importantly, it will serve to create thousands of new jobs in the region, contributing to the overall economic development of Uzbekistan.
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