Uzbekistan to provide financial support to small business
Baku, Azerbaijan, July 5
By Fakhri Vakilov- Trend:
Entrepreneurs of Uzbekistan will receive state support and preferential credit terms, Trend reports with reference to regulation.gov.uz portal.
As stated, State Fund for the Support of Business Development will provide small businesses with guarantees for loans in commercial banks. The guarantee is provided for up to 50 percent of the loan amount. Previously, the maximum limit of funds was up to 2 billion soums, but the amount will double.
The fund will also pay compensation to entrepreneurs to cover interest on loans in commercial banks.
However, such compensation will not be paid to producers of alcohol and tobacco products; catering businessmen; microcredit and leasing companies; and gambling or bookmaker organizations.
($1-8572.29 soums on July 5)
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