Microcredit provision to small businesses and the self-employed will be expanded

Microcredit opportunities for small businesses and self-employed individuals will be expanded. It is planned to expand microcredits in the microfinance market in Uzbekistan.

According to the presidential decree that came into force on August 28, microcredits will be provided to small businesses and self-employed individuals registered in Uzbekistan for a period not exceeding 36 months.

It is established that microfinance organizations will be allocated targeted and revolving credit lines, refinance loan portfolios, provide guarantees and provide technical assistance. The terms and conditions of the investments made will be determined by the Entrepreneurship Development Company.

Also, based on the company's justified request, the Ministry of Economy and Finance will allocate a budget loan annually starting in 2028 at a rate 4 percent lower than the key rate of the Central Bank. These funds will be provided for a period of 7 years with a 3-year grace period.

These support measures will be implemented by microfinance organizations, banks, and the Microfinance Services Development Enterprise, which is a company-founded company.

It is also planned to provide loans of up to 5 billion soums at a rate of two percent below the prime rate for a period not exceeding 120 months to small and medium-sized businesses that have fulfilled their tax and credit obligations on time, have retained jobs, and have completed their projects with a net profit for two consecutive years.