TASHKENT, Uzbekistan, May 14. Uzbekistan will allow entrepreneurs to gradually buy out shares of the company "Agrostar" over a seven-year period without revision of its valuation as part of measures to expand industrial orchard development, Trend reports via the press service of the Uzbek president.
The initiative was outlined during a meeting chaired by President Shavkat Mirziyoyev focused on accelerating the development of intensive, export-oriented horticulture across the country.
Under the program, banks will provide preferential loans of up to 120 million soums ($10,000) per hectare, with 50% of the interest rate subsidized upon timely repayment. In addition, state subsidies of 5 million soums ($416) per hectare will be allocated for orchard maintenance over a three-year period.
Entrepreneurs will also be able to use Islamic financing instruments to purchase water-saving technologies, fruit seedlings and agricultural machinery, aimed at improving efficiency and sustainability in the sector.
