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Finance 03/05/2011 Uzpromstroybank issues loans for 69.7bn soums to small businesses in 1Q 2011
Uzpromstroybank issues loans for 69.7bn soums to small businesses in 1Q 2011
Tashkent, Uzbekistan (UzDaily.com) -- Uzpromstroybank open joint stock commercial bank issued 69.7 billion soums of loans to small businesses, including 7.2 billion soums of microcredits, in the first quarter of 2011.

The small businesses created 1,540 new jobs due to issued loans of the commercial banks in the reporting period.

Uzpromstroybank, one of the largest commercial banks of Uzbekistan, issued loans for 66.3 billion soums due to own resources and 3.4 billion soums – foreign credit lines.

About 19.6 billion soums (28%) of total financial resources were directed to development of industry, 5.7 billion soums (8%) to agriculture, 15 billion soums (21%) to construction and service sectors, 16.4 billion soums (23%) – to fulfill turnover resources and 13 billion soums (19%) other sectors.

Small businesses also received 7.2 billion soums of microloans in 2010. The microloans were directed to industrial development (1 billion soums or 14% of total microloans), agriculture (0.8 billion soums, 12%), construction and services (1.1 billion soums, 15%), fulfill turnover funds (2.5 billion soums, 34%) and other industries (1.8 billion soums, 25%). The microloans helped to create 443 new jobs.

The bank created special Fund of preferential crediting of producing microfirms, small enterprises, dehkan and farm entities, high-technological and innovative projects with 18 billion soums of resources. Overall, 42 billion soums were issued due to resources of the fund, including 945.7 million soums in the first quarter of 2011.

Besides, the bank issued 747 million soums to support animal husbandry in the first quarter of 2011. As of 1 April 2011, the bank issued loans for 147 million soums to expanding vegetable and fruit production and 731.3 million soums to developing poultry.

One of priorities of Uzpromstroybank is to support family business. The bank issued 188.3 million soums to this direction. Small businesses received 139.3 million soums of loans to fulfill their turnover resources.

The bank also allocated 14.6 billion soums to support producers of food products. Farmers and other entities received 401 million soums to create five greenhouses. Non-food consumer goods producers and wholesale traders got credits for 15.8 billion soums.

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