Tashkent, Uzbekistan (UzDaily.com) -- Decree of the President "On additional measures to further improve the activities of the State Fund for Entrepreneurship Support" was adopted.

The main activities of the State Fund for the Support of Entrepreneurship (hereinafter referred to as the Fund):

continuation of actions to improve the local business and business environment through financial support for business entities;

assistance in increasing the volume of exports by supporting business entities engaged in exports; 

active participation in the implementation of state, sectoral and regional programs that create new jobs through the development of entrepreneurship;

implementation of programs aimed at developing small businesses in the country, including financial support for the development of areas that are key drivers of economic growth and the creation of new jobs in the regions;

financial support for highly effective areas from the socio-economic point of view, including projects for the creation of information systems and programs, through loans from commercial banks.

From 1 July 2022, the Fund provides:

compensation for up to three years to cover part of the interest rate exceeding the main rate, but not exceeding 30% of the main rate, loans and leasing allocated by commercial banks for projects of small businesses, the total cost of which does not exceed 5 billion soums;

commercial bank loan guarantees:

- in the amount of up to 50% of loans allocated to projects of small businesses, the total amount of which does not exceed 2.5 billion soums;

- until 1 January 2025, in the amount of up to 75% of loans allocated to small businesses assigned to mahallas to assist in the development of small businesses and family businesses.

The document establishes that compensations and guarantees for loans and leasing of commercial banks are provided to small businesses, taking into account the available financial resources and risks of the Fund, with the exception of loans providing for:

production of alcoholic and tobacco products and (or) organization of their wholesale trade activities;

organization and implementation of the activities of retail outlets, catering points, filling and charging stations for cars;

acquisition and repair of cars and used trucks (with the exception of trucks imported from abroad);

acquisition of buildings and structures;

formation of working capital (except for pre-export financing);

repayment of previously received loans, leasing or any other debt;

formation of the resource base of non-bank credit organizations, leasing and insurance companies.

From 1 January 2023, the amount of financial assistance accepted by the Fund in one financial year is determined by the Fund Management Board

proceeding from

from the amount of funds allocated from the state budget.