Banks of Uzbekistan to increase lending to small business

Uzbekistan, Tashkent, March 6 /Trend D.Azizov/

The commercial banks of Uzbekistan allocated 4.5 trillion soum in the state program approved by the government of the state program Year of the Family to support small businesses and family businesses in 2012, Central Bank of the Republic said on Tuesday.

The total volume of micro-credit planned in the amount of 843 billion soums. Concessional loans to finance business plans of graduates of professional colleges amounted 28.3 billion soum.

Concessional loan in the amount of 68 billion soum is planned to allocate for business support of young families. More than 365 billion soum will be allocated for women entrepreneurs in the development of family businesses and workmanship.

Allocation of credit resources worth over 40 billion soum to finance projects involving the introduction of high technologies and innovations, as well as micro firms, farmer and farms that are in remote and inaccessible areas where there is surplus labor is planned from the concessional lending to commercial banks, formed by contributions from net profit as planned.

The construction of one hundred 48 apartment building at the expense of the banks is planned in order in view of social protection for young families, particularly in providing them with housing. Housing mortgage loans for 15 years at an interest rate not exceeding the Central Bank refinancing rate (12 per cent at present) will be provided for young families.
A special program Consumer loans for young families has also been developed to improve the welfare of young families.

Consumer loans will be provided by commercial banks in the amount of 200 times of the minimum wage for up to three years at a reduced interest rate for the purchase of durable goods of domestic production.

Currently the minimum wage in Uzbekistan is 62.92 thousand soum per month.
As previously reported, President Islam Karimov approved the state program "Year of the Family" in late February, which was adopted in order to strengthen and develop the institution of the family as the foundation of society. Some 4.4 trillion soum and more than $370 million from all sources are planned to direct to the implementation of the program in 2012.

About 60 percent of the funds accounts for state funds, 25 percent - loans of commercial banks, about 15 percent - own funds of the principal investigators. More than $360 million is planned to receive from international financial institutions and donor countries.

According to the regulator of the banking system of Uzbekistan, in 2011, commercial banks have allocated 4.04 trillion soum to the republic to support small business and entrepreneurship and micro-credit amounted to 752 billion soum, which is 1.5 times higher than in 2010.

The banking system of Uzbekistan is currently represented by 30 banks, including three state banks, five - with the participation of foreign capital, 12 - joint-stock and 10 - private banks.

As previously reported, the total assets of commercial banks amounted to 27.45 trillion soum in 2011, increase by 32.4 percent compared to the totals in 2010. Loan portfolio of banks in the republic increases by 35.6 percent - up to 15.65 trillion soum.

Official exchange rate on March 6 is 1832.19 soum / $1

Red Cross to hand over Georgia 100 thousand Sinopharm vaccine shots
Red Cross to hand over Georgia 100 thousand Sinopharm vaccine shots
NCDC: Georgia to receive extra half a million Sinopharm vaccine doses in June
NCDC: Georgia to receive extra half a million Sinopharm vaccine doses in June
Turkey's 4M2021 export of steel to Georgia surges in value
Turkey's 4M2021 export of steel to Georgia surges in value
Loading Bars
Latest
Bulgarian team takes first place at World Cup in Baku in group exercises with three hoops and two pairs of clubs
Discussions underway to resume Tabriz-Baku flights - Iranian official
Awarding ceremony held within Rhythmic Gymnastics World Cup in Baku (PHOTO)
Iran reveals COVID-19 data for May 9
Turkey discloses volume of cargo transshipped through Aliaga port
Bulgarian gymnast grabs gold in exercise with ribbon at Rhythmic Gymnastics World Cup in Baku
76th anniversary of Victory in Great Patriotic War celebrated in Shusha (PHOTO)
Israeli gymnast grabs gold in exercise with clubs at Rhythmic Gymnastics World Cup in Baku
Leadership of Azerbaijani MoD paid tribute to memory of compatriots, who died in Great Patriotic War (PHOTO)
Baku holds award ceremony of winners and prize-winners of Rhythmic Gymnastics World Cup at National Gymnastics Arena (PHOTO)
Azerbaijani team grabs bronze in exercise with 5 balls at Rhythmic Gymnastics World Cup in Baku
Italian gymnast grabs gold in exercise with ball at Rhythmic Gymnastics World Cup in Baku
Israeli gymnast grabs gold in exercise with hoop at Rhythmic Gymnastics World Cup in Baku
Final day of Rhythmic Gymnastics World Cup starts in Baku - Azerbaijani graces competing for medals (PHOTO)
Industrial enterprises to be put into operation in Iran’s Tehran Province
Azerbaijani Economy Ministry announces winner of tender on assessment of feasibility study
Turkey discloses number of ships received by Bandirma port from Jan. through March 2021
Azerbaijani president, first lady pay tribute to Azerbaijanis who made unparalleled contribution to victory over fascism (PHOTO/VİDEO)
EU and India agree to resume trade talks at virtual summit
Azerbaijan strongly condemns attempts to distort truth about WW2, justify fascism - MFA
First Vice-President Mehriban Aliyeva makes Instagram post on Victory Day over fascism (PHOTO)
India's COVID-19 tally surpasses 22 mln with over 400,000 new cases
China’s Long March-5B carrier rocket’s last stage enters atmosphere
Brazil sees 2,202 more COVID-19 deaths
Red Cross to hand over Georgia 100 thousand Sinopharm vaccine shots
Russia's 2M2021 import of Turkish cars grows in value
Turkey reports 18,052 new COVID-19 cases, 5,016,141 in total
“Covo-Pasteur”, “Barakat” vaccine to hit market soon: Rouhani
Daily COVID-19 case count at 2,350 in Kazakhstan
China reports 12 new COVID-19 cases vs seven a day earlier
Chile reports third consecutive day of over 6,000 daily COVID-19 cases
UN remembers the dead of WWII
2 people, including child, shot in NYC Times Square
Attack on Syrian government forces repelled in Idlib, at least ten militants killed
WHO records over 817,000 new daily cases of COVID-19 worldwide
Iraq decides to quarantine evacuees from India for 14 days as total cases hit 1,108,558
UK records another 2,047 coronavirus cases, 5 deaths
Azerbaijan marks Day of Victory in Great Patriotic War
Iranian trucks do not transport goods to Karabakh - Iranian embassy
NCDC: Georgia to receive extra half a million Sinopharm vaccine doses in June
Iran may extend cooperation on inspections with IAEA
Consumers must protect IoT devices - Fortinet
Azerbaijan’s Baku city has beautiful National Gymnastics Arena – Russian gymnast
Baku holds awarding ceremony of Rhythmic Gymnastics World Cup (PHOTO)
Azerbaijani team reaches finals in group exercises as part of Rhythmic Gymnastics World Cup (PHOTO)
WB plans to issue loan to finance another road project in Azerbaijan
Any attempt to glorify fascism is disgusting - Russian expert
Group team competitions underway in Baku as part of Rhythmic Gymnastics World Cup (PHOTO)
Azerbaijani ADA University sсreens film timed to Day of Victory in WWII (PHOTO)
Azerbaijan names finalists in exercise with clubs as part of gymnastics World Cup in Baku
Azerbaijani gymnast reaches finals in exercise with ribbon as part of World Cup in Baku
Iran providing much needed mechanization for farmers in Qazvin Province
Germany’s import of steel from Turkey up
Azerbaijani president allocates funds for construction of new school in Shusha
Funds allocated for construction, repairs of educational institutions in Baku
Uzbekistan interested in co-op with French pharmaceutical company
Funds allocated for creation of heat supply system in Azerbaijan’s Shusha
France’s import of steel from Turkey up
Iran's Energy Exchange announces products to be on sale on May 9
Azerbaijani Finance Ministry places medium-term bonds on auction
Cotton spinning factory of Turkmenistan’s Lebap region names production data
Chevron should remain cautious in further increasing oil & gas production
Azerbaijan to continue online lessons in 10th-11th grades, minister says
Foreign shipping lines expected to return to Iran
Austria increases import of steel from Turkey
Fars Province to be connected to north-east and south-east of Iran via railway line
1Q2021 value of operations via interbank national settlements system in Azerbaijan down
United Arab Bank turns around with Dh10.2 million net profit
Azerbaijan's MoD shares video about Shusha - cultural capital of Azerbaijan
New jobs created in Iran's Ardabil Province
Turkmenistan's Turkmengas opens tender for overhaul of gas turbine engines
Iran’s Bahar Azadi gold coin price falls
World Cup in Baku became one of my favorite competitions - Azerbaijani gymnast (PHOTO)
Khazar Consortium opens tender for purchase of controller
Value of Iran's import of Turkish steel in 4M2021 grows
Russia’s coronavirus reproduction rate remains below 1
Azerbaijan sets up new military units in liberated lands (PHOTO)
Kazakhstan increases exports to UAE
Best moments of second day of Rhythmic Gymnastics World Cup in Baku (PHOTO)
Kazakh gymnast shares impressions of Rhythmic Gymnastics World Cup taking place in Baku
Cult of personality of Garegin Nzhdeh in Armenia can be compared with that of Hitler in Nazi Germany – Russian analyst
Azerbaijan shares data on number of vaccinated citizens for May 8
EU sceptical on vaccine waiver, but ready to discuss proposal
Azerbaijan confirms 649 more COVID-19 cases, 1,720 recoveries
Iran declares details of exports from Ardabil Province
Uzbekistan projects volume of direct foreign investments for 2021
Exports via Iran's Sistan and Baluchestan Province up
Turkey's 4M2021 export of steel to Georgia surges in value
China boosts import of Azerbaijani products y-o-y
Azerbaijan's Central Bank unveils data on foreign exchange transactions over March 2021
Azerbaijani Ro-Pax type ferry reaches Kazakh port of Kuryk (PHOTO)
G-7 countries back Taiwan's observer status in World Health Assembly
Lack of minefield maps delays mine clearance - Trend TV
Uzbekistan’s 1Q2021 cars export revealed
Results of Azerbaijani gymnasts’ performance in exercises with clubs, ribbons as part of Rhythmic Gymnastics World Cup in Baku (PHOTO)
Turkish Energy Ministry prolongs oil, gas exploration licenses for several companies
Azerbaijani president displayed successful strategy on battlefield and in media - two tactics of Great Victory
Turkmenistan sees active dev't of cotton industry
Latvia reveals main economic indicators of bilateral cooperation with Georgia
Iran discloses number of restored mines in South Khorasan Province
All news