TASHKENT, Uzbekistan, February 12. Uzbekistan plans to allocate $315 million to expand meat and dairy production, Trend reports.
This was announced at a meeting on utilizing new reserves and priorities in agriculture for 2024 organized by Uzbekistan's president Shavkat Mirziyoyev.
The goal is to help entrepreneurs establish livestock farms, purchase small and large cattle, and produce fodder. Funds will be provided at 17 percent per annum for up to 10 years with a three-year grace period.
A preferential loan of 1 trillion soums ($81 million) will be allocated to provide livestock farms with working capital.
If the interest rate on loans exceeds 18 percent, the remaining part of interest will be covered by the Entrepreneurship Support Fund.
In addition, managers of the fishing industry have been assigned the task of increasing output to 1 million tons and hiring 50,000 people this year.
The president of Uzbekistan has instructed to create at least 500 reservoirs on river banks and to start cooperative fishing.
Moreover, it was proposed to increase the size of unsecured loan for fish farming up to 100 million soums ($8,101) under the family entrepreneurship program.
Meanwhile, Uzbekistan plans to provide agriculture with 900,000 tons of mineral fertilizers, reducing their cost by 15 percent.
