The amount of loans for household expansion provided based on the recommendation of khokim’s assistants increases

Tashkent, Uzbekistan (UzDaily.com) -- A Presidential Resolution “On additional measures to bring support for entrepreneurial initiatives of the population to a new level within the framework of family business development programs” was adopted.

According to the Resolution, at least 13 trillion soums will be allocated to finance projects within the framework of family business development programs in 2023.

From 1 February 2023:

priority is given to loans for the population and entrepreneurs who have not previously used loans under the programs;

for long-term lease of agricultural land, dekhkan farms and small businesses are provided with unsecured loans in the amount of up to 50 million soums;

the amount of loans allocated on the basis of the recommendations of khokim’s assistants for entrepreneurial projects aimed at expanding production, services and crafts in mahallas, as well as cooperation with the population and households, will be increased from the current 225 million soums to 300 million soums;

At the same time, the initiator must participate in the project with a share of at least 30 percent;

within the framework of the programs, small businesses that carry out entrepreneurial activities and make timely payments on loans are allowed to reuse these loans to further expand their activities;

on the recommendation of the kkhokim’s assistant, a part of the loan amount up to 10 million soums (up to 20 million soums for artisans) is credited to bank cards (with limited possibility of cashing out).

From 1 June 2023, in the process of providing loans to the public and entrepreneurs, identification of the borrower will be established based on the biometric data contained in the ID-card (biometric passport).