$600 million to be allocated to support investment projects in pharmaceuticals

Previously, it was reported that the head of state signed a decree on the development of the pharmaceutical industry. The document approves a roadmap of measures to stimulate and accelerate the implementation of investment projects until 2025.

It is planned to allocate up to $600 million to finance new investment projects in the pharmaceutical field, according to the presidential decree.

A credit line in the amount of $100 million will be allocated from the Reconstruction and Development Fund to Asakabank at a rate of 5% per annum for up to 10 years, including a grace period of 4 years. The funds will be used to attract foreign technologies, production of medicines, medical products and equipment.

By the end of this year, MIIT and Asakabank will attract a loan of $500 million from foreign banks and international financial institutions.

In agreement with the Agency for Development of the Pharmaceutical Industry, Asakabank will finance investment projects in the field of pharmaceuticals.

In addition, the Ministry of Investment, Industry and Trade, as well as the administrations of Tashkent, Jizzakh, Namangan, and Andijan regions will conduct an inventory of land areas in special economic zones specializing in pharmaceuticals within two months.