22:08 / 16.06.2020
Uzbekistan allocates $100 million to support services sector

President Shavkat Mirziyoyev signed a decree “On measures to support the services sector”.

Photo: Presidential press service

According to the document, a loan in the equivalent of $100 million will be allocated to commercial banks from the Reconstruction and Development Fund to develop the services sector.

The decree states that loans will be allocated to commercial banks for a period of 7 years, including a three-year grace period with an interest rate of 4 percentage points lower than the Central Bank’s main rate.

Loans will be allocated to business entities in the services sector (with the exception of business entities in trade and finance) to create and equip enterprises, especially those operating in the field of consumer services, education, medicine, information communications and other relevant areas, at the basic rate of the Central Bank in the amount of up to 1 billion soums.

At the same time, at least 20% of the loan funds will be allocated to women and young entrepreneurs.

In addition, for 67 types of activities (works, services) that self-employed people can engage in, loans will be allocated under the “Every Family – Entrepreneur” program.