Tashkent, Uzbekistan (UzDaily.com) -- A Presidential resolution "On measures to further expand the mechanisms for financing entrepreneurial projects in the regions" was adopted.

According to the resolution, a credit line in the equivalent of US$300 million will be allocated to banks to finance the activities of small businesses.

Wherein:

a credit line is allocated to commercial banks in the national currency for a period of 7 years, including a three-year grace period, at a rate of 10 percent per annum;

loans are provided by banks for the implementation of projects in the field of production and provision of services in the amount of up to 5 billion soums for a period of up to 5 years, including a grace period of up to two years, at a rate of 14 percent per annum;

loans are allocated to business entities

with a duration of activity of up to six months in the amount of

up to one billion soums, from six months to one year - up to two billion soums, from one year to two years - up to three billion soums, from two to three years - up to four billion soums, more than three years - up to five billion soums;

at least 70 percent of the credit line is allocated to entrepreneurs operating in the territory outside the city of Nukus, administrative centers of regions and cities of regional subordination.