Tashkent, Uzbekistan (UzDaily.com) -- According to the decree “On additional measures to improve the living conditions of the population and the further expansion of the mortgage lending market,” from 1 May to 31 December 2020, the State Fund for Support of Entrepreneurship Activities on Loans of Commercial Banks in national currency allocated under the new order, private contractors for the construction of 4 storey and more than 4 floors of apartment buildings in cities and rural areas, as well as 7 storey and having more than 7 floors houses in the city of Tashkent:

- a guarantee is issued in the amount of up to 50 percent of the loan amount, but not more than 8 billion soums;

- compensation is paid to cover part of the interest rate that exceeds the basic rate of the Central Bank, but not more than 10 percentage points, for loans in the amount of not more than 20 billion soums, with an interest rate not exceeding 1.75 times the basic rate of the Central Bank.

At the same time, surety and compensation are provided for the construction of multi-apartment buildings, taking into account the average market value of one square meter of an apartment in the respective region and the norms of the area of 2-room apartments, as well as apartments with 3 or more rooms, as determined by the Ministry of Finance, the Ministry of Economic Development and Reduction poverty and the Ministry of Construction.