Three Uzbek banks to lend state projects on family entrepreneurship
The Presidential Decree "On additional measures to improve the procedure for lending projects implemented within the framework of state programs for the development of family entrepreneurship" was adopted.
The Presidential Decree "On additional measures to improve the procedure for lending projects implemented within the framework of state programs for the development of family entrepreneurship" was adopted.
According to the Decree, starting January 1, 2020:
- lending to projects within the framework of state programs aimed at the development of small business, family entrepreneurship and self-employment, increasing opportunities for women and supporting the younger generation, is carried out at the refinancing rate of the Central Bank of the Republic of Uzbekistan, mainly through JSC "Halk Banki", JSCB "Mikrokreditbank" and JSCB "Agrobank";
- it is allowed to provide compensations and subsidies to cover interest costs on loans issued by authorized banks for the development of small business and family entrepreneurship, employment, support initiatives of women and young generation;
- repayable in 2020-2022, part of the resources allocated to finance these programs is channeled monthly to authorized banks to finance projects under the programs, while the interest rate on resources is set at 4 percentage points below the refinancing rate.
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