Uzbekistan introduces new system of lending to women and youth
According to the document, non-governmental educational institutions will educate women and youth in entrepreneurship in special courses. The training program is subject to approval by the Agency for Business Development and the Higher School of Business and Entrepreneurship.
A new credit system for women and youth is being introduced in Uzbekistan. A corresponding decree was signed by President Mirziyoyev.
According to the document, non-governmental educational institutions will educate women and youth in entrepreneurship in special courses. The training program is subject to approval by the Agency for Business Development and the Higher School of Business and Entrepreneurship.
Upon completion of courses, they will receive a certificate and will be able to get micro-loans without collateral in the amount of up to 33 million soums for the organization of their business.
Credit up to 225 million soums will be available to those who have founded their own Microfirm or small business. A loan of this size will be issued on the basis of a guarantee from third parties and other types of security provided for by law.
These loans can be obtained for up to 3 years, including a grace period of up to 6 months at the Central Bank's main rate (currently 14%). Loans will be issued through "Mikrokreditbank".
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