Tashkent, Uzbekistan (UzDaily.com) -- A Presidential resolution "On measures to further expand the mechanisms for financing entrepreneurial projects in the regions" was adopted. The document was published by UzA. 

Commercial banks will be provided with a credit line in the equivalent of US$300 million from the Fund for Reconstruction and Development to finance the activities of small businesses.

The resolution established that: 

a credit line is allocated to commercial banks in the national currency for a period of 7 years, including a three-year grace period, at a rate of 10 percent per annum;

commercial banks allocate loans for the implementation of projects in the field of production and provision of services (with the exception of projects in the field of construction, trade, intermediary activities, manufacturers of excisable goods, state-owned enterprises and legal entities with a state share in the authorized capital (authorized capital), as well as cases replenishment of working capital) in the amount of up to 5 billion soums for up to 5 years, including a grace period of up to two years, at a rate of 14 percent per annum;

loans are allocated to business entities with a duration of up to six months in the amount of up to 1 billion soums, from six months to one year - up to 2 billion soums, from one year to two years - up to 3 billion soums, from two to three years - up to 4 billion soums, more than three years - up to 5 billion soums;

at least 70 percent of the credit line is allocated to entrepreneurs operating in the territory outside the city of Nukus, administrative centers of regions and cities of regional subordination.

The Fund for Reconstruction and Development must, within three days after receipt of applications from commercial banks, ensure the placement of resources in them in accordance with the distribution of resources by regions and commercial banks.

The document also introduced amendments to some legislative acts.