In Karakalpakstan, a credit line of 300 billion soums will be launched at 12%

In Karakalpakstan, a credit line of 300 billion soums will be opened at 12%

In Karakalpakstan, reliable entrepreneurs will be offered loans at 12% per annum. For this purpose, a credit line of 300 billion soums is being opened.

This refers to entrepreneurs who meet their obligations to banks in a timely manner. Over the past three years, 2,000 businessmen in the region have repaid loans worth 2.145 trillion soums on time.

Now, under the "Mijozni ustirish" (Client Growth) model, there are plans to help another 30,000–40,000 people find jobs and increase their income. To achieve this, banks will expand financing for existing businesses.

Initially, the interest rate on the loans will be 16%. The Entrepreneurship Development Company will compensate 4 percentage points, reducing the rate to 12% for entrepreneurs.

The remaining eight banks have been instructed to develop similar loan products within a month.