Guarantee Fund of small business development created in Uzbekistan

Tashkent, Uzbekistan ( -- A Guarantee Fund of small business development was created in Uzbekistan.

President of Uzbekistan Shavkat Mirzizyoyev signed a resolution on creation of the fund on 10 February 2017.

The fund is created in form of joint stock company. State Competition Committee, Uzbekistan Banking Association, Chamber of Commerce and Industry of Uzbekistan, several banks and insurance companies are the founders of the fund.

The fund is created to improve business climate and speed up development of entrepreneurship in Uzbekistan.

The Guarantee Fund of small business development will provide guarantee to banks for loans allocated to small businesses to the volume, which is not secured with the guarantee, The guarantee can cover up to up to 50% of the loan volume, but cannot exceed US$100,000.

The Fund will provide assistance to small businesses on the terms of obtaining the bank loans and creation of high-tech and innovative production capacities.

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