Livestock to Get a Substantial Boost
In 2017-2022, Uzbekistan intends to invest more than $227.8 million in livestock development.
It is envisaged to improve veterinary services, and provide credit support to livestock farms for the purchase of advanced technologies.
The other day, President Shavkat Mirziyoyev has approved the feasibility study for this initiative. The document stipulates that it will be funded through a $30 million loan of the International Bank for Reconstruction and Development, and a $120 million loan of the International Development Association. The Board of Directors of the World Bank has already approved the provision of these funds with a maturity of 25 years, including a fiveyear grace period.
In six years, the contribution of Uzbekistan will total $77.82 million, including $39.74 million of granted benefits for taxes and customs payments, financial charges during the investment period, and other costs, as well as $38.08 million of contributions of stakeholders.
The project will cover all regions of the country, including Karakalpakstan. The Ministry of Agriculture and Water Resources was appointed as the executive body, which will be responsible for its timely and complete implementation, as well as monitoring.
The head of state has released goods, works, services and vehicles, which are procured for the funds of international institutes, from customs duties, value added tax, mandatory deductions and fees to state target funds.
Moreover, these benefits also apply to goods, works and services purchased by farms and agricultural organizations for refinanced funds. The released funds will be the country's contribution to the project.
Non-resident participants of the project are exempted from personal income tax. At the request of the Ministry of Agriculture and Water Resources, the Ministry of Foreign Affairs of the Republic should ensure the registration of entry visas for them without levying consular and other fees. Foreign specialists are also released from paying a state duty for registration of a temporary residence permit in the country.