December 26, 2023

A Small Business Development Fund will be created

As part of the implementation of the “Comprehensive Program for Continuous Support of Small Businesses”, a Small Business Development Fund will be established.

The Business Development Bank will be the founder of the Small Business Development Fund with 14 regional centers across the country.

The centers will provide comprehensive services for:

– selection of small business projects;

– training of entrepreneurs;

– financing, information support; 

– development of business plans and technical and economic bases;

– search for markets.

In order to support entrepreneurial activity, it is planned to allocate loans for up to 7 years with a grace period of up to 2 years, and for working capital — a revolving loan of up to 1.5 billion soums at a rate of 18%, which exceeds the main rate of the Central Bank by 4%, for up to 3 years.

The tasks of providing leasing for the purchase of fixed assets for business have been defined. Loans in the amount of up to 100 million without collateral and loans in the amount of up to 150 million soums with a reduction in the collateral requirement to 50% will be allocated.

The Fund will provide consultations on obtaining licenses, permits and certificates, customs and tax administration, registration of export-import operations and contracts, participation in public procurement, purchase or lease, as well as the design of land plots, buildings and structures.

It is planned to allocate 6 trillion soums from the state budget and $1.2 billion from international financial institutions for the implementation of the program in 2023-2026.