▲ Up
 akipress
22:10 14-11-2018
АКИpress CA-News Tazabek Turmush
ADVERTISE WITH US SUBSCRIBE
KazakhstanKyrgyzstanMongoliaTajikistanTurkmenistanUzbekistanWorld
POLITICSBUSINESSINCIDENTSSOCIETYCULTURESPORTANALYSISSCIENCE
akipress
ADB allocates $198 million for Uzbekistan to support horticulture sector
Central Asia | business | 14:20, 18 June 2018 | 675

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.

LATEST NEWS
17:40 World's most excellent airlines for 2019 revealed17:33 Turkmenistan, Uzbekistan discuss key areas of cooperation17:15 President Jeenbekov receives commanders of CIS border troops16:50 Digital CASA: MP says parliament fears endorsing agreements after power plant breakdown16:45 Parliamentary faction leader suggests probe into leakage of personal information during election campaign16:27 MP gifts 3-storey building for school in remote district of Kyrgyzstan16:20 Kyrgyz athlete wins world weight lifting championship and sets world record16:10 Saudi Arabia to provide $30 million to Kyrgyzstan for construction of schools amid their shortage15:58 Pedestrian tunnel for 28mln soms in Osh region to open in December15:17 Calgary votes against Winter Olympics bid15:04 Kyrgyzstani fighter Altynbek Mamashev new WEF welterweight champion14:45 Construction of new building of Taza Suu municipal enterprise begins in Batken14:40 Court closes 1 case against ex-Bishkek mayor Kubanychbek Kulmatov14:36 Special services of Turkic states discuss situation in Afghanistan, Syria14:35 Campaign in honor of World Diabetes Day starts in Batken14:31 $14.6 million out of $20 million of EDB investment for farm machinery leasing disbursed: Deputy PM14:18 Kyrgyz farmers interested in Belarusian farm machinery14:08 Over 5,000 Kyrgyzstanis have diabetes: Health Ministry14:04 Kyrgyzstan, Turkey discuss military cooperation13:48 ADB allocates $500mln loan to strengthen Turkmenistan's electricity supply and boost regional power trade
© AKIpress News Agency - 2001-2018. 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