Uzbek bank finances aquaculture development in country’s regions

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TASHKENT (TCA) — Commercial banks in Uzbekistan are providing financial support to entrepreneurs developing fish farms in the country’s regions as part of the government’s measures aimed at ensuring food security and agricultural development, the Jahon information agency reported.

In order to further support and develop fish farming in Uzbekistan, the joint-stock commercial mortgage Ipoteka-Bank has held seminars in the country’s Ferghana, Andijan, and Namangan regions to discuss the development prospects of the aquaculture industry and plans for 2016.

A total of 4,019 tons of fish was raised in the Ferghana region in 2015. This year it is planned to increase the figure to 5,200 tons, and create 56 new fish farms on 97.5 acres. To achieve these goals in the Ferghana region, Ipoteka-Bank will allocate 6.6 billion soums in loans this year.  

The Andijan region produced 2,535 tons of fish last year and plans to increase the output to 3,700 tons this year. In addition, the region plans to implement 49 new projects in the fisheries sector. To fulfill these plans the bank plans allocating loans worth 6.8 billion soums this year.

In the Namangan region, the local branch of Ipoteka-Bank plans to allocate 102.3 billion soums in loans for aquaculture development this year.

Today there are 2,817 fish farms in Uzbekistan which produce a total of 60 thousand tons of fish per year. The country’s fish production has increased six-fold over the past five years.

Sergey Kwan

TCA