DUSHANBE, January 10, Asia-Plus  -- Khatlon’s Yovon district is the first in Tajikistan to introduce a new method of financing of farming units, Mirzoashraf Sharipov, member of a working group for introduction of the new financing mechanism, said.

According to him, 189 dehqan (peasant) farms functioning in Yovon have concluded one-year loan agreements with Agroinvestbonk for totaling 8,613,040 somonis.  The funds will go to funding sowing and harvesting campaigns in the district.  

“The farms have to date received 373,895 somonis of the mentioned amount,” Sharipov said, noting that loans are provided to cotton-growing at a rate of 2,770 somonis per one hectare.    

He said Agroinvestbonk provides loans to farmers at 18 percent annual interest.

According to the Yovon agriculture directorate, 1,330 dehqan farms now function in the district; of them, 601 farms grow cotton.  Yovon cotton farmers now owe more than $30 million to creditors.   .