Uzbekistan Proposes EV Loan Interest Subsidy Program

Tashkent, Uzbekistan (UzDaily.uz) — Uzbekistan has proposed a state support mechanism for the purchase of new electric vehicles through subsidized auto loans. The draft resolution of the Cabinet of Ministers has been published for public consultation.

Under the proposal, state support would be available from 1 August 2026 for the purchase of a new electric vehicle priced at up to 1,000 basic calculation units. The maximum auto loan amount eligible for the subsidy would be 300 million soums.

The government plans to compensate part of the interest rate during the first two years of the loan. The subsidy would apply to the portion of the interest rate exceeding 16% per annum, with compensation capped at 8 percentage points.

For example, if an auto loan carries an annual interest rate of 24%, the government would subsidize 8 percentage points. If the rate is 20%, the subsidy would amount to 4 percentage points.

The program would apply only to new M1-category electric vehicles powered exclusively by electricity and not equipped with an internal combustion engine.

To qualify for the subsidy, borrowers must meet the lending bank's requirements, have no overdue loan payments, and declare their intention to use the state support program when applying for the loan.

The subsidy payments would be transferred directly to the lending bank to partially cover the loan interest rather than being paid to the borrower.

Subsidy payments may be discontinued if the borrower fails to make loan payments for three consecutive months, repays the loan ahead of schedule, terminates the loan agreement, or provides false information when applying for state support.

The proposal envisages financing the program in 2026 through additional allocations from the national budget.

For 2027–2030, the required funding would be included annually in the state budget, taking into account demand for the support measure.

The draft resolution is currently under public consultation, and its provisions may be revised before final adoption.