Tashkent, Uzbekistan (UzDaily.com) — President of Uzbekistan Shavkat Mirziyoyev has signed a decree to transform Aloqabank into a key "Youth Bank" aimed at supporting young entrepreneurs’ business initiatives. A total of US$200 million has been allocated for the program’s implementation.

As part of this initiative, the bank will provide preferential microloans of up to 100 million soums for a period of seven years to support self-employed youth projects. Individual entrepreneurs who hire at least 20 young employees and establish a small enterprise or training center will be eligible for loans of up to 5 billion soums under the same repayment terms. At least 30% of the loan funds will be dedicated to supporting women’s entrepreneurship.

"Youth business incubators" will be launched across the country, transforming promising ideas into startups. These projects will receive support for a period of six months to three years, helping them develop into fully operational businesses or production enterprises.

Additionally, through the Aloqa Venture Fund, startups will be able to attract investments ranging from US$50,000 to US$1 million. Young entrepreneurs will also receive assistance in promoting their products and services both in domestic and international markets, as well as in finding business partners and securing additional investments.