TASHKENT, Uzbekistan, May 30. Uzbekistan’s Business Development Bank intends to attract a total of $1.5 billion for programs to support entrepreneurs and investment projects in 2024, Trend reports.
This was revealed when the Business Development Bank briefed President Shavkat Mirziyoyev on the bank's initiatives to draw capital and assist small and medium-sized enterprises.
Out of expected investment funds, the Uzbek bank plans to attract $225 million from international financial institutions. More than 47,000 micro-projects will be realized by the end of the year due to the utilization of these funds.
At the same time, the Business Development Bank intends to arrange the activity of 380,000 self-employed and individual entrepreneurs by financing the business ideas of the population. The bank's training programs will cover more than 70,000 people.
Meanwhile, Uzbekistan allocates loans within the framework of family entrepreneurship development programs to self-employed persons (except for those who have a main job).
The loans are granted for up to 33 million soums ($2,600), and after one year, they can be increased by up to 50 million soums ($3,940) on a revolving basis.
An increase in the number of loans is possible with effective entrepreneurial activity, targeted use of the loan, and, if necessary, the application of a group of citizens of at least three people.