Part of the interest on a car loan for the purchase of an electric car may be reimbursed by the state

In Uzbekistan, a proposal is being put forward for the state to cover part of the interest payments on auto loans taken out to purchase electric vehicles. A draft government resolution on this has been submitted for public discussion.

According to the draft, starting from August 1, 2026, compensation will be provided for auto loans allocated for the purchase of electric vehicles in the primary market for a value not exceeding 1,000 times the base calculation amount. For loans issued by commercial banks for up to 300 million soums, the part of the interest rate that exceeds 16 percent, but does not exceed 8 percentage points, during the first two years will be covered by the state.

According to the draft resolution, compensation will be financed from additional sources of the republican budget in 2026. In 2027–2030, it is planned to provide the necessary funds for this in the parameters of the state budget.

To receive compensation, a citizen must specifically indicate his desire to use this privilege in the application submitted to the bank during the process of issuing a car loan. The bank will study compliance with the terms of the loan and compensation and make a decision.

The project stipulates that compensation will be allocated only to individuals who are considered creditworthy and do not have overdue credit debts. The amount of compensation must also be indicated separately in the loan agreement.

According to the document, compensation payments will be suspended if the borrower fails to make loan payments for three consecutive months, the loan is fully closed ahead of schedule, the loan agreement is terminated, or incorrect information is detected in the submitted documents.

Earlier, by presidential decree, it was planned to introduce a system of allocating car loans for the purchase of electric vehicles at a rate of up to 16 percent from September 1, 2026. The document provided for covering the increased portion of loan interest from the state budget, and at the initial stage, financing the purchase of 15,000 electric vehicles on preferential terms.