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Farmers receive preferential loans of 5.1 billion soms in 2018

More than 11,000 farmers have received soft loans in the amount of 5,176.8 billion soms in the framework of the project Financing of Agriculture-6 for the first 9 months of 2018. The Ministry of Finance reported.

The farmers reportedly received loans through 11 commercial banks. Most of the money was sent to livestock breeding — 2,780.8 billion soms. Crop production received 1,279.1 billion soms, processing and services — 1,116.9 billion soms.

Recall, within the project, the Ministry of Finance and commercial banks signed agreements on subsidizing interest rates of 5,816 billion soms. At least 1,050 billion is budgeted in 2018 for projects on financing of agriculture.

The project provides loans for a period of up to 3 years at 10 percent per annum for livestock breeding, at 8 percent — for subjects engaged in crop production, at 6 percent — for processing of agricultural products.