19 July 2019

00:00:00 (GMT+5)

Tashkent +36 °C

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10 Apr  2019 453

Uzbekistan enhances equipment of agricultural organizations

The country aims to fit international standards and rise the share of mechanization in cotton harvesting.

According to the adopted Resolution of the President of Uzbekistan "On new procedure for state support for the purchase of agricultural equipment to agricultural organizations", more than 25 percent of the available agricultural machinery has been in operation for over 15 years, and therefore providing agricultural producers with high-quality and affordable equipment remains a priority and requires further state support.

To ensure it a new mechanism of machinery procurement has been introduced. Thus, the financing of the purchase of domestic grain and cotton harvesting equipment will be carried out at the expense of borrowed funds from the State Support Fund for Agriculture under the Ministry of Finance, the volume of which is determined annually when generating its income and expenses. The repayment period of borrowed funds will be from 7 to 10 years, depending on the payback period and the interest rate not exceeding 50% of the Central Bank refinancing rate.

According to the results of the experiment, by December 1, proposals will be made for the implementation of this practice in other regions of the country.

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