$1 Billion Allocated to the "Mahalla Project"
Uzbekistan
President Shavkat Mirziyoyev was briefed on measures to ensure employment and increase the incomes of residents in mahallas through bank participation.
This initiative was outlined during a video conference held on December 16 last year. As a result, in 2025, employment for 5.2 million people is planned, with over 3 million jobs facilitated by banks.
To achieve this, heads of 208 districts and cities, along with bank leaders, signed cooperation agreements detailing the rights and responsibilities of all parties in ensuring employment and increasing incomes.
Target indicators have been established for each mahalla. Within the framework of the "Mahalla Project," $1 billion in credit resources has been allocated and distributed among banks and regions. District bank managers will be assessed monthly on their efficiency in project development, loan issuance, and employment provision.
The Chairman of the Central Bank and his deputies will now visit regions to organize bank branches' work in mahallas under a new approach. By February 1, 2025, district bank branches will establish mahalla-specific departments, and "mahalla bankers" will be appointed. Additionally, "assistant agents" will be selected in each mahalla to collaborate with these bankers.
Regional banks and district authorities will familiarize residents with ready-made business projects and train them in their implementation.
The "online-mahalla.uz," "bank-kredit.uz," and "soliq.uz " information systems will be integrated to monitor task progress daily. Measures will be taken against underperforming leaders.
It was emphasized that 2025 will be a pivotal year for ensuring employment and reducing poverty, requiring intensified and coordinated efforts from local authorities and economic-financial institutions.
To achieve this, heads of 208 districts and cities, along with bank leaders, signed cooperation agreements detailing the rights and responsibilities of all parties in ensuring employment and increasing incomes.
Target indicators have been established for each mahalla. Within the framework of the "Mahalla Project," $1 billion in credit resources has been allocated and distributed among banks and regions. District bank managers will be assessed monthly on their efficiency in project development, loan issuance, and employment provision.
The Chairman of the Central Bank and his deputies will now visit regions to organize bank branches' work in mahallas under a new approach. By February 1, 2025, district bank branches will establish mahalla-specific departments, and "mahalla bankers" will be appointed. Additionally, "assistant agents" will be selected in each mahalla to collaborate with these bankers.
Regional banks and district authorities will familiarize residents with ready-made business projects and train them in their implementation.
The "online-mahalla.uz," "bank-kredit.uz," and "soliq.uz " information systems will be integrated to monitor task progress daily. Measures will be taken against underperforming leaders.
It was emphasized that 2025 will be a pivotal year for ensuring employment and reducing poverty, requiring intensified and coordinated efforts from local authorities and economic-financial institutions.
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