Small businesses will be provided with financial assistance

Adopted Presidential Decree “On additional measures to further improve the activities of the State Fund for Support of Entrepreneurial Activities” (UP No. 150 of 09.06.2022).

According to the Decree, from July 1, 2022, the State Fund for Business Support provides compensation for up to three years to cover part of the interest rate, exceeding the base rate but not exceeding 30 percent of the base rate, loans and leasing allocated for projects of small businesses, the total cost of which does not exceed 5 billion soums, interest rate – does not exceed 1.5 times the size of the main rate of the Central Bank.

The Fund provides surety on loans from commercial banks:

• in the amount of up to (inclusive) 50 percent of loans allocated to projects of small businesses, the total amount of which does not exceed 2.5 billion soums;
• until January 1, 2025, in the amount of up to (inclusive) 75 percent of loans allocated to leading small businesses assigned to mahallas to assist in the development of small businesses and family entrepreneurship on the basis of cooperation in remote and hard-to-reach areas and areas with an excess of labor resources, in addition, for projects for the development of home labor, the total amount of which does not exceed 2.5 billion soums.

Compensation and sureties of the Fund are provided to small businesses for loans and leasing of commercial banks only in national currency.

Financial assistance applies only to one project of one entrepreneur, if the debt on the loan to which the contract applies is fully repaid, the entrepreneur has the right to re-apply to the Fund for financial assistance.