To foster land development and cooperation between farmers and businesses in Uzbekistan, preferential loans amounting to UZS 1 trillion ($81.1mn) will be provided. This includes loans without collateral (up to UZS 100mn or $8,100) or under-reduced collateral (up to UZS 150mn or $12,200).
President Shavkat Mirziyoyev recently held a meeting to discuss the utilization of new reserves and the priorities in agriculture for 2024.
The President directed the completion of the digitalization of 1.8mn hectares of land, which includes gardens, vineyards, greenhouses, and crops. The management of these crops, including their placement, yield control, and fertilizer usage, will be conducted through the “Agroplatform”.
An additional 60,000 hectares of land have been earmarked for the population to increase the volume of farmed products by 1.5mn tons and boost export revenue by $200mn. The importance of training the youth in farming and ensuring their employment in these new sites was emphasized.
Agricultural Machinery and Greenhouse Lending
Farmers and dekhkan farms will be provided with 10,000 units of agricultural machinery for a ten-year leasing period. The benefits for imported mini-tractors and motor cultivators will be extended for another three years.
Food Production and International Brands
Plans are underway to increase the production of the 25 most popular types of food. For this purpose, 342 projects with a total cost of UZS 7 trillion ($568mn) have been developed. These projects will be financed through 10-year loans and working capital loans from WB funds.
The goal is to attract the production of 5 international brands in the next two years. Companies will be provided with subsidies of up to UZS 500mn ($40,600) for the placement of production, as well as the costs of attracting partners.
This year, it is planned to attract $655mn of foreign investment in agriculture. Instructions have been given to initiate new projects worth $500mn.
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