Tashkent, Uzbekistan (UzDaily.com) – On 29 August 2022, Ambassador Extraordinary and Plenipotentiary of Japan to the Republic of Uzbekistan Yoshinori Fujiyama and Deputy Prime Minister - Minister of Investment and Foreign Trade of the Republic of Uzbekistan Jamshid Khodjaev signed Exchange Notes for the Horticulture Value Chain Development Project (Phase 2) in the amount of US$200 million.

The project is being implemented under the Government of Japan Credit Cooperation Program. Also, Minister Khodjaev and Vice-President of JICA Keiichiro Nakazawa signed a Loan Agreement for this project.

Loan conditions:

(1) Interest rate: USD Term SOFR+125 basis point

(2) Maturity: 15 years (including 5 years grace period)

(3) Terms of service: untied

In agriculture, which is the main industry of Uzbekistan, an important task is to diversify the production of horticultural crops such as vegetables and fruits, as well as to strengthen export potential.

This cooperation aims to expand the horticultural value chain and improve access to finance by providing a two-stage loan to farmers, farms that produce, process and market horticultural crops, through capacity building of participating financial institutions, and support to end users of farms .

This year marks the 30th anniversary of the establishment of diplomatic relations between Japan and Uzbekistan. To further promote bilateral relations, the Government of Japan intends to continue to support the industrial development of Uzbekistan.