Tashkent, Uzbekistan (UzDaily.com) -- President of Uzbekistan Shavkat Mirziyoyev signed a decree “On additional measures to ensure food security in the republic.”

In accordance with the Decree, funds in the amount of USUS$220 million from international financial institutions will be sent to commercial banks by 1 March  2024.

Commercial banks are provided with preferential loans at an annual rate exceeding the main rate of the Central Bank by 4 percentage points (including a bank margin of 4 percent), in national currency:

For a period of 10 years with a grace period of 3 years - to finance projects in the food sector aimed at creating an added value chain - from production to delivery to the consumer;

For a period of 18 months with a grace period of 6 months - for working capital.

From 1 March 2024, food exporting enterprises are allocated financial resources for up to 2 years from the resources of the Export Support Fund, depending on the volume of exports over the last 12 months:

Up to US$100,000 – with export volumes from US$100,000 to US$1 million;

Up to US$1 million – with export volume from US$1 million to US$2 v;

Up to US$2 million – with export volumes from US$2 million to US$4 million;

Up to US$3 million – with an export volume of over US$4 million.

Industrial enterprises processing food products and exporting trading houses are allowed to transfer funds up to US$50 thousand per year to foreign accounts without making separate decisions.