▲ Up
12:05 23-01-2019
АКИpress CA-News Tazabek Turmush
ADB allocates $198 million for Uzbekistan to support horticulture sector
Central Asia | business | 14:20, 18 June 2018 | 721

AKIPRESS.COM - The Asian Development Bank’s (ADB) Board of Directors has approved $198 million in additional financing to scale up its support in enhancing horticulture value chain development in all 12 regions in Uzbekistan as well as in the autonomous region of the Republic of Karakalpakstan, ADB said in a release.

“More horticulture farmers and enterprises along the horticulture value chain will be able to access long-term financing from this additional support,” said ADB Senior Natural Resources and Agriculture Economist for Central and West Asia Mr. Bui Minh Giap. “The project will help promote long-term economic and environmental sustainability and enhance profitability for farmers and agribusiness enterprises.”

The additional financing will complement the existing Horticulture Value Chain Development Project approved in November 2016, which allowed the government to provide subsidiary loans to participating financial institutions (PFIs). The project aimed to help PFIs expand their lending portfolio to interested and qualified farmers and enterprises to finance horticulture operations, including planting materials, greenhouses, intensive orchards, processing and storage facilities, and machinery and equipment.

The $198 million loan will help scale up the outreach of seven of the project’s PFIs—namely Asaka Bank, Davr Bank, Ipak Yuli Bank, Ipoteka Bank, National Bank of Uzbekistan, Turon Bank, and Uzpromstroybank—and improve access of farmers, agro-processing enterprises, owners and operators of cold storage facilities, and trading and logistics service suppliers to market-based bank finance. This includes enabling enterprises under the existing project to expand operations.

The additional financing will also increase farm productivity in the country by improving processing and storage capacity and reducing post-harvest losses through the establishment and upgrade of intensive orchards; modern water- and energy-efficient greenhouses; and processing, storage, and refrigeration facilities. The project will help improve Uzbekistan’s agriculture sector, a key contributor in the economy accounting for 32% of the country’s total employment and a significant portion of income in rural areas.

11:55 First Uzbek fast food opens in center of Dushanbe11:45 Second edition of Red Book published in Tajikistan11:43 Drunk policeman involved in deadly road crash will be held accountable: Interior Minister11:32 Mexico sets record with more than 33,000 homicides in 201811:30 Ulaanbaatar, Seoul agree to increase flights and allow other carriers to operate flights11:27 Mongolia foreign minister to pay first ever visit to Kazakhstan11:24 First round of Kyrgyzstan volleyball championship kicks off in Bishkek11:23 Kyrgyzstan to export 1.5 billion kWh of electricity under CASA-1000 Project11:05 Turkish Empathy school in Mongolia was reportedly sold out to German investors10:52 Local exporters not ready to work with retail companies coming to Kyrgyzstan – Investment Agency10:40 Lawmaker dissatisfied with work of government to inform public about new codes10:18 Uzbekistan exports gold for $2.9 billion in 201810:16 Major Internet provider pays 150 million soms in damages: Financial police10:15 President of Turkmenistan orders to grow more potatoes10:09 3-magnitude earthquake jolts Batken09:59 Labor Ministry, UN World Food Program sum up results of joint projects09:58 Air Kyrgyzstan company owes 5,000,000 soms in salaries to its employees09:49 Prime Minister orders to come up with ideas how to start producing smart meters, cables, transformations in Kyrgyzstan09:43 Reforms in local governments of Kyrgyzstan discussed in Brussels09:41 Parliament committee ratifies trade-economic cooperation deal between Eurasian Economic Union and China
© AKIpress News Agency - 2001-2019. All rights reserved
Republication of any material is prohibited without a written agreement with AKIpress News Agency. Any citation must be accompanied by a hyperlink to akipress.com.
Our address:
Moskovskaya str. 189, Bishkek, the Kyrgyz Republic
e-mail: english@akipress.org, akipressenglish@gmail.com;
Tel/Fax: +996(312)65-03-06