BAKU, Azerbaijan, August 23. Uzbekistan will create a convenient financing system for expanding business activities and implementing new projects, Trend reports via the press service of the Uzbek president.
In particular, it is planned to allocate 20 trillion soums ($1.8 billion) for financing small business projects and raise $700 million for lending to medium-sized businesses.
Next year the Ministry of Finance of Uzbekistan will allocate $500 million worth of resources to the country’s Microcreditbank, Agrobank and Xalq Bank to finance micro and small business projects.
Loans will be allocated in the amount of up to 300 million soums ($27,550) for 5 years, including a 2-year grace period.
