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19 June 2020

Soft loans will be made available to entrepreneurs

Within the framework of the Presidential Decree «On measures to support the service sector» of 16.06.2020, for the development of services to commercial banks from the Reconstruction and Development Fund will be granted a loan equivalent to $100 million.

Loans will be granted to commercial banks for a period of 7 years, including a three-year grace period with an interest rate of 4 percentage points lower than the Central Bank’s basic rate.

In turn, commercial banks will channel these funds to loans to service businesses (excluding trade and finance businesses) to set up and equip enterprises. In particular, the Central Bank’s main interest rate of up to 1 billion sum in its activities in the areas of consumer services, education, medicine, information communications and other areas of interest.

At least 20 per cent of the credit will be allocated to women and young entrepreneurs.

Also for 67 activities that can be carried out by self-employed persons, credits will be allocated under the program «Each family is an entrepreneur».