RESOLUTION OF THE PRESIDENT OF THE REPUBLIC OF UZBEKISTAN

of April 19, 2022 No. PP-212

About measures for further expansion of funding mechanisms for entrepreneurial projects in regions

For the purpose of further development of small and medium entrepreneurship by financial support of the entrepreneurial projects realized in regions and ensuring timely realization of entrepreneurial initiatives:

1. Approve the offer of the Ministry of investments and foreign trade, the Ministry of Finance and Central bank on allocation to commercial banks of credit line in equivalent of 300 million US dollars by fund of reconstruction and development for financing of activities of small business entities.

2. Determine that:

the credit line is allocated to commercial banks in national currency for a period of the term of 7 years, including three-year grace period, at the rate of 10 annual interest rates;

the credits are allocated by commercial banks for projects implementation in the field of production and rendering services (except for projects in the field of construction, trade, intermediary activities, producers of the excise goods, the state companies and legal entities having the state share in authorized fund (authorized capital), and also cases of replenishment of current assets) at the rate to 5 billion sum for a period of up to 5 years, including grace period up to two years, at the rate of 14 annual interest rates;

the credits are allocated to subjects of entrepreneurship with activities duration to six months at the rate to one billion sum, from six months to one year - to two billion sum, from one to two years - to three billion sum, from two to three years - to four billion sum, more than three years - to five billion sum;

at least 70 percent of funds of credit line are allocated to the entrepreneurs performing activities in the territory of outside the city Nukus, the administrative centers of areas and the cities of regional subordination.

3. Coordination of effective use of the credit line allocated within this resolution is performed by the deputy prime minister S. U. Umurzakov to whom the following tasks are assigned:

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