BAKU, Azerbaijan, June 14. President of Uzbekistan Shavkat Mirziyoyev signed a decree "On additional measures to further improve the activities of the State Entrepreneurship Support Fund" in order to provide small businesses with compensation to repay part of the interest on loans and leasing agreements, Trend reports citing "Gazeta.uz".
According to the document, from July 1, the State Fund for Business Support provides compensation for up to 3 years to cover part of the interest above the main rate of the Central Bank of Uzbekistan (but not more than 30 percent of the rate) on loans and leasing allocated for small business projects. The loan amount should not exceed 5 billion soums, and the interest rate on it is 1.5 times the size of the Central Bank's main rate.
Furthermore, the fund will be able to provide a guarantee for up to 75 percent of the loan by January 1, 2025, the amount of which should not exceed 2.5 billion soums.
Financial assistance is applied exclusively to one project of one entrepreneur. Upon full repayment of the loan debt covered by the agreement, the entrepreneur has the right to apply to the fund again.