Uzbekistan launches project on livestock development

By  Trend

Uzbekistan jointly with the International Bank of Reconstruction and Development has launched the project "Development of the Livestock Sector in the Republic of Uzbekistan."

The project covers Karakalpakstan and other regions of Uzbekistan.

The International Bank of Reconstruction and Development allocated a loan amounting to $30 million for the implementation of the project. The International Development Association has also provided $120 million with a maturity period of 25 years, including a 5-year grace period, Uzbekistan Today reported.

Uzbekistan, in turn, invested $77,82 million in the project. The executive body responsible for the project’s timely and full implementation is the Ministry of Agriculture and Water Resources of Uzbekistan.

Local banks, participating in the project, are entrusted to manage the credit line, the timely development and targeted use of loans and credits, as well as, monitoring and reporting of the process.

The goods, transport purchased at the expense of loan funds are exempted from customs duties, VAT, mandatory deductions and fees in state trust funds.