TASHKENT, Uzbekistan, March 22. Uzbekistan will allocate 120 trillion soums ($9.6 billion) to support small and medium-sized businesses in 2025, marking the largest financial commitment to the sector to date, Trend reports.
The news follows a meeting between President of Uzbekistan Shavkat Mirziyoyev and small and medium-sized enterprises (SMEs).
As part of the support measures, the government will provide 22 trillion soums ($1.76 billion) in preferential loans to encourage entrepreneurship. Of this amount, 2.5 trillion soums ($200 million) will be dedicated to youth-led businesses, while another 2.5 trillion soums will be allocated to women entrepreneurs. Additionally, women-led businesses will benefit from a 2 percent lower loan interest rate compared to other borrowers.
Moreover, the government has introduced new financing mechanisms to support business growth. Entrepreneurs who successfully transition to SME status within a year will be eligible for unsecured loans of 150 million soums ($12,000). Similarly, family businesses will be able to access unsecured loans of up to 50 million soums ($4,000). These measures aim to make it easier for small businesses to expand and become more competitive.
Earlier, European Bank for Reconstruction and Development (EBRD) announced the signing of two new loans in Uzbekistan, aimed at fostering growth in the country's small and medium-sized enterprises (SMEs) while promoting sustainability.
The first loan, valued at $1.1 million, will support Dolores Travel Group in expanding its tourist fleet. In addition to the loan, the financing includes an outcome-linked grant that is tied to sustainability performance indicators (KPIs), encouraging the company to integrate sustainable practices into its operations.
The second initiative focuses on strengthening the agribusiness sector, with a 200,000-euro grant provided to Ermak, a BlueRibbon company, as part of the EBRD's Agrifood Nexus Programme funded by Germany.