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Finance
14/12/2010
Uzbekistan plans to attract US$560m to develop small business
Uzbekistan plans to attract US$560m to develop small business
Tashkent, Uzbekistan (UzDaily.com) --
Uzbekistan is planning to attract preferential foreign credit lines and grants for US$560 million in next five years, according to the programme on reforming and increasing sustainability of financial-banking system of Uzbekistan for 2011-2015.
As earlier reported, the President of Uzbekistan Islam Karimov approved the programme in the end of 2010.
The programme said that commercial banks and Central Bank of Uzbekistan will develop complex measures on attracting and using preferential credit lines and grants of international financial institutions and foreign countries to expand financing projects of small and private businesses.
At the same time, the programme added that the banks will attract US$75 million in 2011, US$90 million in 2012, US$110 million in 2013, US$130 million in 2014 and US$155 million in 2015.
Commercial banks of Uzbekistan and Central Bank were also ordered to expand the volume of crediting of small businesses and private entrepreneurs by 2.7 times in 2011-2015.
As earlier reported, the volume of loans, issued to small businesses and private entrepreneurs by commercial banks, made up 2.134 trillion soums in January-September 2010, which is up 1.5 times year-on-year, including microloans for 418,2 billion soums (up 1.6 times).
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