President Shavkat Mirziyoyev reviewed a presentation on the effective organization of financing for the cotton and grain industries, as well as a new system of subsidies in the agricultural sector.
During the presentation, it was revealed that a total of 34.2 trillion soums is planned to be allocated for cotton and grain cultivation, subsidies, and other expenses in the coming year. Additionally, an extra $200 million will be attracted to procure 800 cotton-picking machines. Proposed new support mechanisms in this regard were also discussed.
Specifically, it was proposed to allocate an additional 5 trillion soums in 2026 for agronomic measures, including the provision of plastic film and flexible pipes. It was noted that if farmers utilize up to 50% of their credit limit for cultivating crops and receive a subsidy equivalent to 5% of the value of sold cotton, the number of farmers producing crops using their own funds and partial credit would reach 4,000 to 4,500, potentially saving them 2.5–3 trillion soums.
Currently, a uniform interest rate is applied when providing loans to farmers, irrespective of whether they are financially stable or fail to adhere to repayment discipline. In this regard, a proposal was made to establish a model of "discipline equals low-interest loans" among farmers. Under this proposal, farms with an "A" credit rating would receive loans at a reduced rate of 2%, and those with a "B" rating at a 1% lower interest rate. This approach aims to reduce the credit burden on disciplined farmers.
Additionally, an initiative was suggested to allocate a 10% subsidy to farmers cultivating wheat using their own funds.
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