Tashkent, Uzbekistan (UzDaily.com) -- The Presidential Decree “On measures to improve the system of financial support for small and medium-sized businesses” was adopted.

According to the Decree, the Entrepreneurship Development Company will be transformed into a joint stock company.

From 1 March 2024, the Company provides the following support measures to business entities, providing:

- for production and service projects for medium-sized businesses:

- contribution to the authorized capital of the initiators in the form of real estate, equipment and other forms of shares in the amount of 15 percent of the cost of projects, but not exceeding 20 percent or 3 billion soums of the authorized capital;

- acquisition of property in the amount of 70 percent of real estate and equipment, but not exceeding 10 billion soums, and its transfer to the initiator on the basis of a mortgage of services with the condition of accruing annual interest on the balance of the debt at a rate exceeding the main rate of the Central Bank by 4 percentage points, for a period of up to seven years or payment in installments;

- for projects of small and medium-sized businesses:

- placement of financial resources in national and foreign currency in commercial banks, microfinance and leasing organizations for the allocation of loans (leasing);

- provision of guarantees with a total value not exceeding 5 billion soums for loans, leases, bank guarantees and letters of credit provided in national and foreign currency by commercial banks, microfinance and leasing organizations;

- provision of guarantees (portfolio guarantees) for loans within the limit, total amount and conditions established on the basis of intermediary agreements for the use of the Company’s funds concluded with commercial banks;

- providing compensation to small businesses in 2024–2026 in the amount of up to 40 percent of the main rate of the Central Bank for a period of no more than three years for loans up to 5 billion soums, allocated in national currency at a rate exceeding the main rate by 4 percentage points and not exceeding 1.75 times the base rate.