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.
