TASHKENT, Uzbekistan, October 24. Uzbekistan may increase the maximum size of microloans issued by microfinance institutions to 100 million Uzbek soums ($8,246), Trend reports.
Currently, the limit on the volume of microloans in Uzbekistan stands at 50 million soums ($4,123).
According to the Uzbekistan Central Bank, this reform will enable economically active individuals to access financing for commencing self-employment or pursuing individual entrepreneurial endeavors.
Meanwhile, the value of loans issued to individuals in Uzbekistan reached 105.1 trillion soums ($9.2 billion) as of March 2023.
According to the Central Bank, the value of loans issued to individuals has increased by 48.1 percent compared to the figure for March 1, 2022 (70.9 trillion soums, or $6.2 billion).
From the total value of loans issued to individuals in the corresponding period, mortgage loans accounted for 47.6 trillion soums ($4.1 billion), consumer loans for 25.5 trillion soums ($2.2 billion), microloans for 15.3 trillion soums ($1.3 billion), loans for business development for 14.1 trillion soums ($1.2 billion), etc.
At the same time, the value of loans issued to legal entities as of March 1, 2023, reached 292.4 trillion soums ($25.6 billion).