Tashkent, Uzbekistan (UzDaily.com) —  President of Uzbekistan has signed a resolution “On measures to improve the comprehensive program for continuous support of small business.”

According to the document, the following mechanisms will be introduced as part of the program:

- Provision of microloans up to 300 million soums per project. Of this amount, 100 million soums will be allocated without collateral from the funds of the JSC "Entrepreneurship Development Company," while up to 200 million soums will come from the own funds of banks and microfinance organizations;

- Distribution of credit risks between the government and microcredit providers or provision of portfolio guarantees from the Microcredit Company up to 100 million soums, allocated without collateral;

- Transition to a refinancing system for collateral-free microloans up to 100 million soums, which will be issued by microcredit providers using their own funds.

Interest-free microloans up to 100 million soums:

- Will be provided to small business entities that have been operating for at least one year and have a positive credit history;

- From 1 November 2024, will be refinanced by the Company to microcredit providers at rates depending on the category of the territory where the small business is registered and operates:

  - 12.5% — for Category 5 territories;

  - 13.5% — for Category 4 territories;

  - 14.5% — for Category 3 territories;

  - 17% — for Category 2 territories;

  - 18% — for Category 1 territories.