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Uzbekistan Introduces Financing And Ownership Model For Industrial Orchards
(MENAFN- Trend News Agency)
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.
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