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Uzbekistan approves strategy to increase financial accessibility

Finance Materials 13 July 2021 10:48 (UTC +04:00)
Uzbekistan approves strategy to increase financial accessibility

BAKU, Azerbaijan, July 13

By Jeila Aliyeva - Trend:

Uzbekistan has approved a national strategy for increasing financial accessibility for 2021-2023, Trend reports with reference to UzDaily.uz.

The national strategy provides: increasing the coverage of basic financial services; the development of digital financial services; expanding the financing of small businesses; strengthening the protection of the rights of consumers of financial services; improving the financial literacy of the population and entrepreneurs.

The strategy was developed by the Central Bank of Uzbekistan.

Uzbekistan will increase the state budget expenditures by 13.1 trillion soums ($1.2 billion).

Some 410 billion soums ($38.8 million) will be allocated to improve land, water, and road infrastructure around tourist sites, 350 billion soums ($33 million) - to provide free economic zones and small industrial zones with the necessary infrastructure and 124.2 billion soums ($11.7 million) - to strengthen the material and technical base of institutions for early detection and treatment of endocrine diseases.

In addition, 80 billion soums ($7.6 million) will be transferred to the El-Yurt Umidi Foundation to increase the number of young people sent to study at prestigious foreign universities by five times (from 82 to 350) and 64.4 billion soums ($6 million) in order to increase admission rates to higher educational institutions under a state grant of 25 percent and grants to girls from low-income families by two times and bringing this number to 2,000 from the 2021/2022 academic year.

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