Youth in Uzbekistan to Receive Preferential Loans of up to 100 Million Soums

Tashkent, Uzbekistan (UzDaily.com) — Uzbekistan has approved additional measures to support youth employment through the development of entrepreneurial initiatives, according to a presidential decree titled “On additional measures to ensure youth employment through support for entrepreneurial projects.”

Under the “Youth Business” program, JSCB Aloqabank will provide loans to citizens under the age of 31 with a repayment term of up to seven years. Borrowers will be granted a grace period of up to one year for principal payments and up to three months for interest payments. The interest rate on the loans will be set at the Central Bank base rate plus 4 percentage points.

The document also provides for preferential microloans of up to 100 million soums, subject to the availability of an insurance policy or third-party guarantee. Financing will be directed toward the implementation of various types of youth entrepreneurship projects.

Up to 20 million soums may be allocated for training in foreign languages, digital technologies, and the acquisition of modern professions.

Up to 50 million soums will be available for projects in modern professions, including social media marketing, mobile content production, freelancing, online store development, and other forms of self-employment.

Another category of up to 50 million soums will be available for home-based work projects, textile production, sewing, raw material processing, and manufacturing of new goods.

The maximum loan limit of 100 million soums will be allocated for bakery and confectionery production projects.