Resolution No. 680 of the Cabinet of Ministers “On additional measures for crediting the production of cotton raw materials and the costs of harvesting and sale thereof.

Regulation on accounting for the costs of growing and harvesting cotton and the final accounting of the purchase of raw cotton establishes the accounting procedure. The amount of the credit allocated for the cost of growing raw cotton is determined monthly by the Ministry of Agriculture of the Republic of Uzbekistan and the State Support Fund for Agriculture under the Ministry of Economy and Finance based on an analysis of price dynamics for mineral fertilizers, fuels and lubricants and chemicals necessary for agricultural activities, as well as on the basis of agrotechnical maps. The financial year is considered to be the period from the first of January to the end of the thirty-first of December. Using the Fund's credit resources, commercial banks will provide preferential loans to producers of cotton raw materials for the final calculation of the costs of growing cotton raw materials and harvesting cotton, as well as for the purchase of cotton raw materials. The Fund will allocate its credit resources to a commercial bank based on the announced price of raw cotton. Crediting shall be regulated by contracts. In case of non-repayment of loans by a commercial bank within the period specified in the contract, interest on the unrepaid part of the loans is accrued at a rate equal to 1.5 times the main rate of the Central Bank of the Republic of Uzbekistan.