DUSHANBE, April 15, 2009, Asia-Plus — The national budget for 2009 adopted last November earmarked 180 million somoni (TJS) in a form of the government credit for cotton farmers for this year, Deputy Finance Minister, Jamshed Norinov, said in an interview with Asia-Plus.
According to him, this amount will not be changed in connection with revision of this year’s budget and reduction of its expenditure part.
According to him, this year’s government credit is given to banks at a 10 percent annual interest and they should provide these funds in loans to farmers at annual interest of not higher than 14 percent. The government credit should be repaid in 18 months.
“The Ministry of Finance has already sign loan agreements with Orienbonk, Agroinvestbonk, TajPromBank and the Tojik Sodirot Bonk (TSB) and 93 million somoni have already been distributed to them,” Norinov said. “The main difference of these agreements of the last year’s contracts is that banks may provide government funds in loans to cotton farmers as they think best,” he added.
