US$500 million to be directed to development of Samarkand region
06/04/2018 13:13
US$500 million to be directed to development of Samarkand region
06/04/2018 13:13
Tashkent, Uzbekistan (UzDaily.com) -- Over US$500 million will be spent on accelerated socio-economic development of Samarkand region.
The funds are provided by the decision of the President of Uzbekistan Shavkat Mirziyoyev for development of infrastructure and industry, the Narodnoye Slovo newspaper reported.
The head of the region Turobjon Djuraev stressed that the unique opportunities for accelerated social and economic development are the result of the country’s close attention to issues of integrated development of the territories and the creation of qualitatively new conditions for people’s lives at the extended video selector meeting of the Samarkand region’s asset dedicated to effective development of allocated financial resources.
During the working visit to Samarkand region on 17-18 March, Uzbek President not only set ambitious new tasks to deepen complex reforms, but also proposed concrete mechanisms for ensuring a breakthrough in this direction.
In particular, the President initiated opening of privileged credit lines unprecedented in the financial volume for launching large-scale complex measures to accelerate the social and economic development of this large region of the country.
The Fund for Reconstruction and Development of Samarkand region with a reserve of US$50 million is being created. These funds will be used to modernize internal roads, housing and communal services, energy supply, repair of apartment buildings, and provide the population with clean drinking water.
Another US$50 million will be invested in formation of small industrial zones on the basis of abandoned and idle privatized facilities. On these sites, which will operate in the regime of incentive preferences, it is planned to create new production facilities for export-oriented products. The total US$100 million is provided by the Fund for Development and Reconstruction of Uzbekistan.
A solid credit portfolio of US$400 million, allocated by international financial institutions, will be used to form the modern base of the agro-industrial complex.
The funds are directed to create new and modernize existing processing enterprises, organize modern high-tech greenhouses, vegetable stores, develop highly productive livestock and poultry.
With a view to efficient and timely development of huge financial resources, a special "roadmap" was developed and implemented in Samarkand region to actively involve local business communities in implementation of promising programs using concessional loans from international financial institutions.
In particular, the Center for Support of Entrepreneurship began to operate in the regional center, where representatives of commercial banks, regional organizations and institutions, and lawyers work on a permanent basis. Here, on the principle of "one-stop-shop", businessmen can solve all organizational issues related to expert evaluation and execution of projects for their subsequent financial provision. Local entrepreneurs are receiving assistance from the center.
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