Fund for Reconstruction and Development to allocate $100 million for supporting agriculture

According to the document, the Fund for Reconstruction and Development will allocate funds in the equivalent of $100 million to the Ministry of Finance for the State Support Fund for Agriculture, Norma reports.

They will be allocated in national currency for a period of 5 years on an interest-free basis to finance the costs associated with state support for agriculture.

The document also amended some presidential decrees. In particular, in clause 5 of the presidential decree of March 27, 2021, the Ministry of Finance was instructed to ensure in 2026 the reimbursement of 1.5 trillion soums of credit resources allocated by the Fund for Reconstruction and Development on the basis of clause 4 of this decree, at the expense of the republican budget for the unpaid portion of commercial banks. At the same time, the obligations of the authorized banks in the amount of the covered funds to the Fund for Reconstruction and Development are reissued in favor of the Ministry of Finance.

In clause 2 of the presidential decree of May 26, 2021, the period for the return of funds allocated to the Ministry of Finance on an interest-free basis in accordance with clause 1 of this resolution has been extended until 2026. It was also established that the refund is made at the expense of the republican budget and other funds not prohibited by legislative acts.