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A special foundation will be responsible for support of farmers and landowners

A Foundation for the Support of Farmers, Dekhkan Farms and Owners of Homestead Lands under the Council of Farmers, Dekhkan Farms and Owners of Homestead Lands of Uzbekistan (hereinafter - the Foundation) is being established with the status of a legal entity.

The President signed the Resolution "On Additional Measures on improving the activities of farming, dekhkan farms and owners of homestead lands."

The Foundation will be used for:
- allocation of resources to "Microcreditbank" JSCB, "Agrobank" JSC and the People's Bank of the Republic of Uzbekistan JSC to provide loans to farmers, dekhkan farms and owners of household land for a period of up to 3 years, including a grace period of up to 1 year, with an interest rate of 7 percent per annum, taking into account the bank's margin in the amount of 2 percent;
- granting loans through commercial banks at the refinancing rate of the Central Bank of the Republic of Uzbekistan, taking into account the margin of the bank at a rate of 2 percent, "Tomorkahizmati" LLC, other production, processing, procuring, supplying, trade organizations in the field of agricultural production and leasing organizations to strengthen the material and technical base, purchase of agricultural machinery and transport, purchase of materials and components for the installation of greenhouses of farmers, dekhkan farms and owners of household land;
- maintenance and logistical support of the activities of the Foundation;
- formation of statutory funds of "Tomorkahizmati" LLC, needy in working capital, in the amount of at least 25 percent of the statutory fund;
other areas related to attracting investments in farming, dekhkan farms and the development of homestead land, as well as the implementation of innovative projects;
b) loans from the Foundation are provided upon agreement with territorial councils of farming, dekhkan farms and owners of homestead lands;
c) incomes of Foundation of up to 30 percent, derived from the placement of funds in commercial banks, is channeled to the maintenance and logistics of the Council, as well as material incentives to its employees.
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