Decree No. 2 of the Cabinet of Ministers validating the Regulation on financing of growing of cotton planting material for seed purposes allocated to cotton textile enterprises and regional clusters.

This Decree of the Cabinet of Ministers, with a view of regulation of the production of quality cotton planting material and seeds, validates the Regulation on financing of growing of cotton planting material for seed purposes allocated to cotton textile enterprises and regional clusters. The aforesaid financing shall be performed at the expense of the State Fund for Agricultural Support under the Ministry of Finance of the Republic of Uzbekistan and loans allocated by commercial banks. Cotton-textile production and clusters shall be considered business entities, which activities shall have as its purpose raw cotton production. Financing of seed production of raw cotton in the areas of cotton-textile production and clusters shall be performed in accordance with the scheme provided in the Annex to this Regulation. Financing of seed production of raw cotton shall be provided at the expense of the Fund, covering up to 60% of the cost of seeds of cotton. Cotton and textile industries and clusters, which apply to a commercial bank for a loan, must submit application and business plan. In accordance with the General Agreement with the Fund, a commercial bank submits an application to the Fund for allocation of resources for the financing of cotton textile production and clusters on a monthly basis. Financing of growing of cotton planting material for seed purposes shall cover the cost of all agro-technical activities, including procurement and delivery of mineral fertilizers, chemical and biological plant protection agents, fuel and lubricants, other resources and services.