In Uzbekistan, a $100 million soft loan will be allocated to support women's entrepreneurship

    Business 12 March 2024 1023

    The President of the Republic of Uzbekistan signed Resolution No. PP-122 dated 03/07/2024 "On additional measures to support the organization and development of women's entrepreneurship."

    For vocational training and employment of women, their broad involvement in entrepreneurship, the Reconstruction and Development Fund allocates credit resources in the equivalent of a total of $ 100 million for a period of 5 years, including a grace period of 2 years, at a rate of 14% per annum, of which:

    • Halq Bank - $35 million;
    • Business Development Bank - $35 million;
    • Microcreditbank - $ 30 million.

    The Chamber of Commerce and Industry and three banks are creating a system to support women's entrepreneurship, which provides:

    • assistance in the development of business projects of initiative women;
    • entrepreneurship training for women in mahallas (neighborhoods);
    • sales of products made by women;
    • assistance in the implementation of projects based on cooperation;
    • monitoring the implementation of projects and establishing regular dialogue with women entrepreneurs.

    A program will also be developed to support women who have expressed a desire to engage in entrepreneurship and carry out work activities aimed at generating income.

    When allocating loans, priority will be given to projects recommended for implementation by women included in the "Unified Register of Social Protection", "Women's", "Youth" and "Iron" notebooks.

    The document was published in the National Database of Legislation and entered into force on 03/9/2024, Norma reports.