Tashkent, Uzbekistan (UzDaily.uz) — The interest rate on loans for family entrepreneurship in Karakalpakstan will be reduced from 17.5% to 12%, President of Uzbekistan Shavkat Mirziyoyev said at a meeting on the socio-economic development of the region in Nukus.
Mirziyoyev said 2,000 entrepreneurs in Karakalpakstan had timely repaid loans totaling 2 trillion 145 billion soums over three years and had become reliable bank clients. According to him, the “client cultivation” model could provide jobs and income for at least another 30,000 to 40,000 people.
The president said the bank responsible for the region was opening a 300 billion soum credit line for reliable clients at an interest rate of 16%. As the Entrepreneurship Development Company will cover 4 percentage points, the rate for entrepreneurs will fall to 12%. Mirziyoyev instructed the other eight banks to develop similar products within a month.
According to the president, next year the volume of resources for “driver” projects based on the experience of Uychinsky and Zarbdorsky districts will be doubled. US$100 million will be allocated for these purposes, with the goal of providing income for at least 50,000 people.
Mirziyoyev said 370 billion soums had been allocated over the past two years to develop business infrastructure. As a result, 2,200 trade and service facilities have been launched and about 10,000 jobs created.
He instructed district heads to develop two additional projects each this year to promote economic growth and provide income for 10,000 people, allocating 100 billion soums for these purposes.
