The Senate of the Oliy Majlis on the sixteenth plenary session on 26 June amended the Law of the Republic of Uzbekistan “On the state budget for 2021”. It was famous on the assembly that the implementation of selections taken over the previous interval of the present 12 months, the implementation of precedence duties and accepted applications require extra sources of funding, Trend experiences citing Uzdaily.
So, for the bills of the Fund for Reconstruction and Development, the Law allocates a further 6.4 trillion soums (beforehand – 13.4 trillion soums, now – 19.8 trillion soums). Of these funds, it’s deliberate to allocate 550 billion soums to finance credit score traces for initiatives for the manufacturing of completed leather-based items, leather-based haberdashery merchandise, in addition to merchandise with excessive added worth from fur and wool.
The Fund for Reconstruction and Development of the Republic of Uzbekistan is a monetary establishment designed to make sure the implementation of initiatives for the modernization and technical re-equipment of the main, primarily primary sectors of the financial system, the achievement of a dynamic, sustainable and balanced socio-economic growth of the nation, in addition to the implementation of an efficient structural and funding coverage.
According to the decision of the President of the Republic of Uzbekistan No. PP-4982 from 8 February 2021 “On additional measures for the further development of the leather and footwear and fur and fur industries”, credit score traces have been opened in industrial banks, the share of the state within the licensed capital of which is 50 p.c or extra, for a complete quantity of US$50 million for the implementation by the Fund for Reconstruction and Development of the Republic of Uzbekistan initiatives for the manufacturing of completed leather-based items, leather-based items, in addition to fur and wool merchandise with excessive added worth in 2021-2022.
Loans are allotted to enterprise entities for the acquisition of contemporary new gear and applied sciences for as much as 7 years, together with a two-year grace interval with an rate of interest of 6 p.c each year.
