Uzbekistan outlines preferential loans for hotel businesses

12:361881 min

Uzbekistan has introduced a preferential lending mechanism for hotel businesses, offering loans of up to UZS 50 billion for constructing new hotels and up to UZS 20 billion for reconstructing and equipping existing facilities, the Tourism Committee said on September 8.

Image: https://hotel-uz.com/

Uzbekistan outlines preferential loans for hotel businesses

Image: https://hotel-uz.com/

Commercial banks would provide loans for up to 10 years, including a two-year grace period, according to the statement.

JSC Entrepreneurship Development Company would cover interest expenses on loans exceeding 16% per annum in national currency, as well as on foreign-currency loans tied to SOFR, EURIBOR, or SHIBOR.

Information on the need for loan financing is collected through the regional tourism departments of the Republic of Karakalpakstan, the regions and the city of Tashkent and submitted to the Tourism Services Certification Center, the message reads.