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MIFT and IFAD leaders sign an agreement

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MIFT and IFAD leaders sign an agreement

On August 4 this year, President of the International Fund for Agricultural Development (IFAD) Gilbert Houngboand and Deputy Prime Minister, Minister of Investments and Foreign Trade of the Republic of Uzbekistan Sardor Umurzakov signed a financing agreement in the amount of $47 million within the framework of the 2nd phase of the project “Diversification and Modernization of Agriculture”, via videoconference.

In accordance with the terms of the agreement, IFAD will allocate long-term concessional loans in the amount of $46.2 million, as well as grant funds in the amount of $800 thousand.

The project is being implemented in Andijan, Namangan and Fergana regions.

The project provides for the creation of modern greenhouses, intensive gardens, introduction of environmentally friendly and water-saving technologies, increasing the level of mechanization of production and processing capacities, expansion of storage facilities in Fergana valley.

UzA