BAKU, Azerbaijan, Feb. 15
By Klavdiya Romakayeva - Trend:
The total volume of loans allocated to small businesses in 2020 decreased due to the restrictions imposed by the COVID-19 pandemic by seven billion soums ($665,716) compared to 2019, the Department head of the Central Bank of Uzbekistan Olim Bulgayev said, Trend reports citing Uzbek media.
According to the information, the total volume of loans issued to Uzbekistan’s small businesses in 2020 amounted to 48.4 trillion soums ($4.6 billion).
At the same time, 103.8 trillion soums ($9.8 billion) were allocated from all sources of financing to small businesses in order to create additional opportunities for entrepreneurs.
In addition, loans worth 6.1 trillion soums ($579 million) were allocated to finance 214,000 projects within the framework of the program for the development of the family business.
In particular, up to now 408 trillion soums ($39 billion) have been allocated under "Every family is an entrepreneur" program.
Also, the following has been allocated to support artisans, farmers, farms and landowners:
786 billion soums ($74 million) from the Employment Promotion Fund under local governments;
428 billion soums ($40.6 million) from the Fund for the Future of Youth;
about 100 billion soums ($9.5 million) from the Fund for Support of Women and Family.
In addition, commercial banks have allocated 4.9 trillion soums ($465 million) of loans to support women entrepreneurs at their own expense and other borrowed funds.
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