Regulations on the Foundation for Entrepreneurship Support approved

Tashkent, Uzbekistan (UzDaily.com) -- Government resolution approved the Regulations on the State Foundation for Entrepreneurship Support under the Ministry of Economic Development and Poverty Reduction.

In accordance with the Regulations, one of the main tasks of the Foundation is to promote state policy in the field of entrepreneurship development, support for socially unprotected segments of the population and their entrepreneurial initiatives.

The supreme governing body of the Foundation is the Council, whose composition is approved by the President.

The Foundation provides compensation for the projects of the following borrowers only:

- registered and operating in the territory of Uzbekistan;

- not under liquidation;

- bankruptcy proceedings that have not been initiated;

- not having overdue loans and taxes from the moment of application.

The state financial control bodies verify that borrowers comply with the conditions, goals and procedure for providing guarantees, compensations and payment of payments.