The World Bank has provided $150 million for the development of horticulture sector in Uzbekistan

The World Bank and the Government of Uzbekistan signed a loan agreement in the amount of 150 million USD from the International Bank for Reconstruction and Development to finance development projects of horticulture sector.

According to the press service of the NAEMM, the project is designed to support cross-cutting priority areas of the State Program of modernization and to accelerate the development of infrastructure (2011-2015), that is improving the competitiveness of such industries as agro-processing, and economic diversification.

Its also aimed to assist farmers in the horticultural sector and to stimulate the creation of more jobs in rural areas by improving access to technology, knowledge and markets, strengthening the technical and managerial capacity in the agricultural sector, the introduction of new products in the financial sector.

The project consists of three components - technical assistance to agriculture, access to credit and management. It will be implemented in eight regions of Uzbekistan - Andijan, Jizzakh, Ferghana, Kashkadarya, Namangan, Samarkand and Tashkent regions, as well as in the Republic of Karakalpakstan.

The project will benefit farmers groups, private enterprises, agricultural companies and enterprises for processing agricultural products, engaged in horticultural sector of the country. Financial institutions participating in project will also benefit by improving skills and acquisition of a more diverse menu of appropriately adapted financial products.

IA "Jahon"