The activities of the Fund for State Support of Agriculture are being improved
27/02/2021 17:25
The activities of the Fund for State Support of Agriculture are being improved
27/02/2021 17:25
Tashkent, Uzbekistan (UzDaily.com) -- The Presidential Decree “On cardinal improvement of the activities of the Fund for State Support of Agriculture under the Ministry of Finance of the Republic of Uzbekistan” was adopted.
According to the Decree, the activities of the Fund for State Support of Agriculture under the Ministry of Finance will be raised to a new level.
Based on this, the payment of compensation to cover part of the interest rate on loans allocated by commercial banks for cotton picking will be made at the expense of the Fund.
In this case, compensation is paid for the first 9 months of the loan in order to cover:
- part of the interest rate on commercial loans allocated in national currency, which exceeds the basic rate of the Central Bank, but not more than 10 percentage points;
- up to 30 percent of the interest rate set by commercial banks on loans issued in foreign currency, but not more than 3 percentage points.
In 2021, commercial banks will provide loans to vegetable growing clusters, farms and other vegetable producers for a period of 9 months in the amount of up to 40 percent of the cost of vegetables grown at an annual interest rate at the main rate of the Central Bank (taking into account the bank's margin - 2 percent).
For commercial loans allocated for growing vegetables in the main areas, starting from the harvest of 2022, a compensation system is being introduced for the part of the interest rate that exceeds the basic rate of the Central Bank.
The decree defines the main tasks of the Fund.
$ 1 | 12570.00 | +0.024% |
1 | 13698.79 | -0.378% |
₽ 1 | 136.91 | -0.270% |