Tashkent, Uzbekistan (UzDaily.com) - A Government Resolution “On additional measures to attract young people to entrepreneurship and support their business initiatives” was adopted.

According to the Decree of the President from 13 July 2021, the Fund for Reconstruction and Development allocated US$100 million to the National Bank for Foreign Economic Activity of the Republic of Uzbekistan.

According to the Resolution, from these funds in 2022-2024, loans will be allocated for new business projects of young entrepreneurs on the following conditions:

- loan amount from 1000 to 2000 sizes of the basic estimated value;

- term - 7 years, grace period - 3 years;

- interest rate - at the key rate of the Central Bank (now 14%).

For the allocation of loans, the Agency for Youth Affairs, the Chamber of Commerce and Industry and banks are forming a list of young people wishing to engage in entrepreneurship.

Educational and practical courses on the formation of business skills and entrepreneurship training among young people, including online, are organized free of charge.

Young people who successfully complete these courses will be issued certificates and loans on the above conditions for organizing their own business.

To implement the project, young people submit an application to the branches of the National Bank for Foreign Economic Activity of the Republic of Uzbekistan, and in accordance with it, either a loan is allocated, or the application is reasonably rejected.