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An Agricultural Insurance Fund is being established in Uzbekistan with 35 billion soums of authorized capital

Farmers will be reimbursed from the budget for 50% of insurance premiums for insuring their products.

On November 21, Shavkat Mirziyoyev signed a decree on the organization of the Agricultural Insurance Fund. The document was published on Lex.uz.

The new fund will operate under the Ministry of Agriculture. It will become the basis of an insurance system in the agricultural sector, aimed at compensating for damage to plants and animals from natural and man-made disasters, fires, pests and diseases.

By 2030, it is planned to increase the coverage of agricultural insurance to 50%, as well as increase agricultural production by 20%. For this purpose, farmers will be reimbursed 50% of insurance premiums from the budget.

From 2026, advance insurance for the risk of product loss will be introduced for agricultural producers receiving preferential loans at the expense of the state. At the same time, under insurance contracts, debts on preferential loans from clusters, farms and other producers will not be reimbursed.

The Ministry of Agriculture was instructed to launch the Agricultural Insurance information system and integrate it with the platforms of other government agencies. The system will carry out:

registration of insurance contracts;

issuing subsidies to cover insurance premiums;

submitting applications for compensation.

The authorized capital of the fund at the start of work will be 35 billion soums. The Ministry of Agriculture will allocate money from the budget to form the authorized capital in the minimum amount in accordance with the law.

By February 1, 2026, the goal is to prepare for each region at least 5 independent experts who will determine the existence of an insured event under an agricultural insurance contract and the amount of damage. By March 2027, it is planned to train another 600 experts.

In April, the president signed a law on risk insurance in agriculture. The document provided for the creation of a government insurance fund, the introduction of subsidies to partially cover insurance premiums, as well as state compensation for damage not compensated by insurance funds.

Earlier, Spot wrote that an Agency for Payments in the Agricultural Sector will appear in Uzbekistan.

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