Supplying agriculture with machinery will be supported financially by the state - Presidential decree

A decree of the President of Uzbekistan “On additional measures for timely provision of the agrarian sector with agricultural machinery” was adopted.

The resolution states that more than 33,700 agricultural machinery was delivered to farmers, cotton-textile producers and clusters in 2018, which is 1.5 times more than the previous year.

Despite the ongoing measures, more than 25% of the existing agricultural machinery is being exploited for more than 15 years. Provision of agricultural producers with qualitative and affordable techniques remains as a top priority and requires further support from the government.

In order to introduce mechanisms of state financial support for agricultural producers with qualitative agricultural machinery, proposals of the Ministry of Finance and the Ministry of Economy and Industry on introducing the following order have been approved:

- financing the supply of local grain sowing and cotton-harvesting techniques will be implemented at the rate not exceeding 50% of the Central Bank refinancing rate under the Ministry of Finance, and repayment terms will be made at the expense of borrowings from 7 to 10 years;

- interest rates on credit contracts for purchase of all types of tractors, grain and cotton sews, as well as plows produced by the Republic of Uzbekistan will be covered at the expense of the State Budget in accordance with the 10% interest rate defined by commercial banks and leasing companies.