DUSHANBE, January 27 Asia-Plus — This year, the government will allocate 180 million somoni (equivalent to 51.429 million US dollars) in loans to farming units, Deputy Finance Minister, Jamoliddin Nouraliyev, told a press conference in Dushanbe on January 27.
He noted that mechanism of distribution of these funds would differ from the mechanism that was used last year for providing 140 million somoni in loans to cotton-growing farms. However, the deputy minister refrained from giving further details of this year’s mechanism.
On the issue of repayment of last year’s loans, Nouraliyev said that farmers had repaid 32 million somoni to banks so far. According to him, taking into account the fact that the global financial crisis led to the decrease in cotton fiber prices, the government has decided to extend the term of repayment of loans till March 1, 2009.
