Shavkat Mirziyoyev: Banks should become real business partners of their customers

On August 2, under the chairmanship of President Shavkat Mirziyoyev, a video-conference meeting was held to analyze the ongoing work on the development of small business and entrepreneurship.

At the meeting, in addition to financial support for entrepreneurship, the issue of ensuring targeted and efficient use of the allocated funds was discussed. In recent years, a huge amount of loans have been provided for the development of entrepreneurship. Over 90 percent of these loans are state funds.

A study of the state of affairs in this direction showed that over a thousand entrepreneurial projects funded by bank loans in 2017-2018 encountered problems related to the allocation of land, obtaining permits, import of equipment and other issues. This, in turn, reduces the return on resources issued.

In this regard, the Accounts Chamber, the Central Bank, and the Ministry of Economy and Industry have been tasked with compiling a list of projects facing such problems and providing them with practical assistance.

The head of state noted that banks should radically change their work style, support entrepreneurs throughout their activities, and become real business partners of their customers.

In addition, the need for wider involvement of international credit lines in business, development of relevant proposals in the context of each region of the country was emphasized. It was noted that clients should be widely informed about the directions and conditions for obtaining such loans through Investment centers organized by commercial banks.