Regulations on the Fund for Entrepreneurship Support approved

Government Decree (No. 428 of 08/04/2022) approved the Regulations on the State Fund for Entrepreneurship Support under the Ministry of Economic Development and Poverty Reduction.

In accordance with the Regulations, one of the main tasks of the Fund is to promote state policy in the field of entrepreneurship development, support for socially unprotected segments of the population and their entrepreneurial initiatives.

The supreme governing body of the Fund is the Council, whose composition is approved by the President.

The Fund provides compensation for the projects of the following borrowers only:

• registered and operating in the territory of Uzbekistan;
• not in liquidation;
• bankruptcy proceedings that have not been initiated;
• having no overdue loans and taxes since the application was submitted.

The state financial control bodies verify that borrowers comply with the conditions, goals and procedure for providing guarantees, compensations and payment of payments.