TASHKENT, Uzbekistan, November 20. Uzbekistan has adopted new guidelines for increasing the financial services for small and medium-sized businesses to 14 trillion soums ($1.1 billion) in 2024, Trend reports.
From the beginning of July 2024, all the processes of granting loans under state programs will be carried out through electronic platforms in order to increase the efficiency of the use of allocated funds.
According to the new guidelines, in 2024-2026:
share of small businesses in the loan portfolio will increase from 28 percent to 43 percent, by increasing the balance of loans provided by 1.7 times.
resources of up to $800 million will be attracted to finance small business projects
$300 million worth of Eurobonds will be issued on international capital markets
Moreover, by December 15, 2023, Uzbekistan plans to approve state programs for attracting 2 million citizens to business in 2024.
Meanwhile, Uzbekistan’s Uzpromstroybank and the Asian Development Bank (ABD) have signed a loan agreement in the amount of $50 million.
The signed agreement is said to contribute to achieving the goal of diversifying the resource base of Uzpromstroybank and expanding the financing of micro, small and medium-sized businesses (MSMEs).
