Tashkent, Uzbekistan (UzDaily.com) –– The President’s Resolution “On Additional Measures to Improve the Lending Procedure for Projects Implemented in the Framework of State Programs for the Development of Family Entrepreneurship” was adopted.

In accordance with the resolution, starting from 1 January 2020:

- lending to projects under state programs aimed at developing small business, family entrepreneurship and self-employment of the population, increasing opportunities for women and supporting the younger generation is carried out at the refinancing rate of the Central Bank of the Republic of Uzbekistan, mainly through Halq Bank, Microcreditbank and Agrobank;

- it is allowed to provide compensation and subsidies to cover interest expenses on loans issued by authorized banks for the development of small business and family entrepreneurship, providing employment, support for initiatives of women and the younger generation;

- a portion of the resources allocated to finance these programs redeemed in 2020–2022 is allocated monthly to authorized banks for financing projects under the programs, while the interest rate on resources is set 4 percentage points below the refinancing rate.

Also, according to the resolution, a wide network of “banking services offices” will be created in all regions, new banking services using information technologies and new types of loans based on “modular” lending will be introduced.