The program was approved by the presidential decree "On the state program Yoshlar - kelajagimiz".

According to the document, from 1 July 2018, the state program Yoshlar – kelajagimiz will be implemented in all districts (cities) of Uzbekistan.

Now the program is carried out in Kuyichirchik district of Tashkent region and Chilanzar district of Tashkent city

The program is aimed at securing youth employment through assistance and support in the implementation of youth business initiatives, start-ups, ideas and projects, training unemployed young people in the market for specialties and business skills, and increasing its social and economic activity in general.

The document notes that the Yoshlar-kelajagimiz Foundation is being established under the Youth Union of Uzbekistan. The Fund will finance the activities of the State Program.

The Fund through banks will provide concessional loans and property for leasing at a rate of 7 percent per annum for the implementation of youth business initiatives, start-ups, ideas and projects.

The Fund will issue guarantees for loans received within the framework of the State Program, for an amount not exceeding 50 percent of the loan amount.

The new fund will participate in entrepreneurial projects carried out within the framework of the State Program in the amount of no more than 50 percent of their value, followed by the implementation of the Fund’s share for 5 years.

Within the framework of the program, courses will be organized for retraining and improving the skills of young people, for training professions in demand on the labor market. Young people will also teach business.

The decree said that in Uzbekistan, coworking centers Yosh tadbirkorlar will be established to provide young entrepreneurs with concessional terms of renting premises, office equipment and supplies, access to the Internet, and other assistance in the implementation of youth business initiatives, start-ups, ideas and projects , including development of business plans, provision of consulting, legal, accounting and other services, organization of forums, master classes and seminars;

It is planned to create Yoshlar mehnat guzar complexes in the labor-surplus regions for the creation of trade-household and small production sites.

The construction of coworking centers "Yosh tadbirkorlar" and complexes "Yoshlar mehnat guzari" is carried out on the following conditions of public-private partnership.

The Fund has the right to participate in financing up to 30 percent of the cost of building Yosh tadbirkorlar coworking centers and Yoshlar mehnat guzari complexes with further capitalization of these funds into their charter capital.

Private investors undertake to finance at least 70 percent of the cost of construction and ensure the construction and commissioning of Yosh tadbirkorlar coworking centers and Yoshlar mehnat guzari complexes within the agreed timeframe and in accordance with standard projects.

The content of coworking centers "Yosh tadbirkorlar" and complexes "Yoshlar mehnat guzari" is carried out at the expense of private investors.

In 2018, the Fund will receive gratuitous financial assistance from the republican budget through overfulfilment of the forecasted portion of revenues of 500 billion soums, allocated in July, until 1 October and 1 December 2018 in equal shares.

The Fund will also receive contributions of 1 percent of the annual revenues to the off-budget funds of ministries, state committees and departments quarterly transferred to the Fund.

10 percent of the funds received monthly in the Development Fund of the Youth Union of Uzbekistan in accordance with paragraph 13 of the Decree of the President of the Republic of Uzbekistan of July 5, 2017 No. UP-5106 "On measures to improve the effectiveness of the state youth policy and support the activities of the Youth Union of Uzbekistan" will also be sent to a new fund.

The Fund can also attract grants from domestic, foreign and international organizations, as well as charitable funds - individuals and legal entities, residents and non-residents of the Republic of Uzbekistan, etc.

The new Fund allocates financial resources to commercial banks at a rate of 5 percent per annum to finance concessional loans and leasing of property provided under the State Program.

Preferential loans and property are leased for up to 5 years with a grace period of up to 12 months.

Granting soft loans and property for leasing is provided through the National Bank for Foreign Economic Affairs of the Republic of Uzbekistan, Bank Ipak Yuli, Khalq Bank and Hamkorbank.

Financing of youth business initiatives, start-ups, ideas and projects is carried out on the basis of typical business plans developed by the Chamber of Commerce and Industry of the Republic of Uzbekistan jointly with financing commercial banks.

Financing of youth business initiatives, start-ups, ideas and projects worth over 2 billion soums is carried out after the coordination of their business plans with the National Project Management Agency under the President of the Republic of Uzbekistan.