The money will be used to partially repay loans taken for growing cotton.
The authorities plan to improve the system of financing the industry in order to increase the interest of manufacturers and create convenient conditions for the deep processing of the product.
The new financing procedure will be introduced next year. The funds will be allocated by the Fund for State Support of Agriculture. They can be claimed by:
• cotton-textile clusters – up to 60% of the cost of raw cotton at a rate of 10% per annum for two years, including a grace period of 18 months;
• elite seed farms as part of the Seed Development Center – up to 60% of the cost of raw cotton at a rate of 10% per annum for a period of 14 months.
For picking cotton, these organizations will be able to receive loans in the amount of up to 20% of the cost of raw cotton at a rate of 10% per annum for one year, including a grace period of 3 months.