New Opportunities for Small Business Support!
Business
New mechanisms are being introduced in Uzbekistan to ensure the continuous development of small businesses. A presidential decree (PQ-312) issued on September 7, 2024, will enhance the "Continuous Support for Small Businesses" program, offering entrepreneurs new financial opportunities.
Under this program, entrepreneurs will be able to access microcredits of up to 300 million soums, with 100 million of that being unsecured. These funds will be provided by the Entrepreneurship Development Company, while the remaining 200 million will be supplied by banks and microfinance institutions.
Unsecured microcredit risks will be shared between the state and lenders, or guaranteed by the Company. This will ease the financial burden on entrepreneurs and provide more favorable conditions for their growth.
Moreover, small business entities will be refinanced based on the region in which they operate, with these benefits becoming effective from November 1, 2024.
Unsecured microcredit risks will be shared between the state and lenders, or guaranteed by the Company. This will ease the financial burden on entrepreneurs and provide more favorable conditions for their growth.
Moreover, small business entities will be refinanced based on the region in which they operate, with these benefits becoming effective from November 1, 2024.
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