KHUJAND, October 28, 2008, Asia-Plus — Cotton farmers in the northern Sughd province now owe U$86 million to their creditors, the Sughd governor Qohir Rasoulzoda announced at a press conference in Khujand on October 27.
“With introduction of a new mechanism of financing of cotton-growing farms through banks, local cotton farmers have received 44 million somoni in loans this year,” the governor said, noting that that the cotton-growing farms should repay their loans by April next year.
According to him, 180 million somoni in loans will be provided to the Sughd farming units next year.
In 2008, funds were spent at the rate of US$400 per one hectare of cotton fields, while in 2007, this rate was US$500 per one hectare, the governor said.
He further added that this year the Sughd farmers would probably yield cotton 25,000 tons less than last year.
