At the Ministry of Economic Development and Poverty Reduction, First Deputy Minister of Economic Development and Poverty Reduction Saidkakhkhor Kholkhuzhayev met with representatives of the Japan International Cooperation Agency "JICA" headed by the head of the JICA office in Uzbekistan Miyazaki Suguru.

The meeting was also attended by the Director of the Department of Macroeconomic Policy, Analysis and Forecasting - Ilhomjon Umrzakov, Deputy Director of the Central Asia and Caucasus Division, Department of East and Central Asia and the Caucasus - Mr. Mishima Kenji and other representatives of ministries and departments. 

During the meeting, the parties discussed aspects of a new loan within the framework of the project "Development of the value chain in the fruit and vegetable industry (Phase II)", which provides a line of credit to horticultural farmers through participating financial institutions.

Mr. Suguru noted that JICA, as a state structure focused on social and financial programs, carries out its activities to determine and cover the urgent needs of Uzbekistan in specialists in various areas - from education, healthcare, infrastructure, energy, trade and finance to rural development economy and rural areas, the introduction of modern technologies and environmental protection. It was noted that the goals of the new project are:

- development of a value chain in horticulture, especially strengthening of export potential;

- reducing poverty and increasing employment in the agricultural sector;

- ideas to increase access to finance for small farmers or ideas to increase trickle down effects for small farmers. Representatives of "JICA" informed about the progress of the project "Improving the efficiency of the fruit and vegetable sector in the Republic of Uzbekistan Phase I", and noted that the project was successfully developed and implemented, and in accordance with this project, loans were allocated to more than 500 business entities.

In addition, it was noted that the project on "Improving the efficiency of the fruit and vegetable sector in the Republic of Uzbekistan Phase II" is aimed at supporting both large and small business entities, and will also contribute to the creation of a large number of small businesses and job creation, which in turn will support government policy to reduce poverty.

It was noted that the main focus of the Phase II project is the establishment of a regional quota - in order to reach needy farmers and concentration of concessional credit resources, giving priority to poorer areas in terms of income level, remoteness from bank branches.

Following the meeting, an agreement was reached on further elaboration of the project, and the parties expressed their readiness to continue further strengthening the partnership.

Source: Ministry of Economy and Finance of the Republic of Uzbekistan