Microcredits for youth and women to be allocated without collateral
Tashkent, Uzbekistan (UzDaily.com) -- A resolution of the President "On additional measures to improve the system of involving the population in entrepreneurship and the development of entrepreneurship" was adopted.
In accordance with the resolution, starting from 15 November 2020, the following procedure for state support for training youth and women in professions and entrepreneurial skills is being introduced:
70 percent of the expenses of non-state educational organizations spent on training the population in professions and entrepreneurship in training courses organized by them on the basis of programs and requirements approved and established by the Agency for the Development of Entrepreneurship and the Higher School of Business and Entrepreneurship are compensated by the state, but in an amount not exceeding 1 million soums for each graduate (youth and women) who completed these courses;
persons who have successfully completed and received a certificate of these courses are allocated microcredit to organize their business.
Individuals who have received special certificates of non-governmental educational organizations, JSCB "Microcreditbank" are allocated:
microcredits without collateral in the amount of up to 33 million soums for organizing their own business to individuals who have entrepreneurial initiatives, including youth and women;
microcredits in the amount of up to 225 million soums to persons who established microfirms and small enterprises, on the basis of a guarantee of third parties, insurance policies, a pledge of property acquired on credit, a guarantee of the State Fund for Support of Entrepreneurship.
At the same time, microcredits are allocated for a period of up to 3 years, including a grace period of up to 6 months at the main rate of the Central Bank.
According to the resolution, in order to provide a financial source for the establishment of entrepreneurship by training youth and women in the professions and skills of entrepreneurship, the Fund for Reconstruction and Development will allocate funds in the equivalent of US$100 million.
From 1 January 2022, the Unified Entrepreneurship Education System will be launched.
Until 1 January 2021, a new business model of "Microcreditbank" will be developed for the broad involvement of the population in entrepreneurship, especially youth and women.
The Agency for the Development of Entrepreneurship was determined by the authorized state body for coordinating mechanisms to support the entrepreneurial activity of the population, in particular, work on training and allocating microcredits to the population.