TASHKENT, Uzbekistan, March 22. Uzbekistan will
allocate 120 trillion soums ($9.6 billion) to support small and
medium-sized businesses in 2025, marking the largest financial
commitment to the sector to date, Trend reports.
The news follows a meeting between President of Uzbekistan
Shavkat Mirziyoyev and small and medium-sized enterprises
(SMEs).
As part of the support measures, the government will provide 22
trillion soums ($1.76 billion) in preferential loans to encourage
entrepreneurship. Of this amount, 2.5 trillion soums ($200 million)
will be dedicated to youth-led businesses, while another 2.5
trillion soums will be allocated to women entrepreneurs.
Additionally, women-led businesses will benefit from a 2 percent
lower loan interest rate compared to other borrowers.
Moreover, the government has introduced new financing mechanisms
to support business growth. Entrepreneurs who successfully
transition to SME status within a year will be eligible for
unsecured loans of 150 million soums ($12,000). Similarly, family
businesses will be able to access unsecured loans of up to 50
million soums ($4,000). These measures aim to make it easier for
small businesses to expand and become more competitive.
Earlier, European Bank for Reconstruction and Development (EBRD)
announced the signing of two new loans in Uzbekistan, aimed at
fostering growth in the country’s small and medium-sized
enterprises (SMEs) while promoting sustainability.
The first loan, valued at $1.1 million, will support Dolores
Travel Group in expanding its tourist fleet. In addition to the
loan, the financing includes an outcome-linked grant that is tied
to sustainability performance indicators (KPIs), encouraging the
company to integrate sustainable practices into its operations.
The second initiative focuses on strengthening the agribusiness
sector, with a 200,000-euro grant provided to Ermak, a BlueRibbon
company, as part of the EBRD’s Agrifood Nexus Programme funded by
Germany.