According to the resolution of the President of Uzbekistan of June 7 of this year, in every district and city, primarily in remote regions and regions with severe climatic conditions, the program “Every family – entrepreneur” is being implemented.

According to the resolution of the President of Uzbekistan of June 7 of this year, in every district and city, primarily in remote regions and regions with severe climatic conditions, the program “Every family – entrepreneur” is being implemented. It is aimed at ensuring radical improvement of material conditions, significant positive changes in the quality of life of the population.

Activities for implementation of the program of relevant working groups have been established in Samarkand region. The composition of working groups is formed from the number of deputy khokims, responsible employees of territorial economic complexes, banks, the Chamber of Commerce and Industry, and a number of state and public organizations.

The President’s resolution provides issuance of preferential loans of commercial banks in the amount up to 150 times the minimum wage – for the development of family entrepreneurship based on recommendations of sector leaders on socio-economic development of territories and citizens’ gatherings of makhallas.

In addition, up to 1,000 times the minimum wage credit is issued to duly registered subjects of small business on the basis of guarantees from third parties, insurance policies, mortgage purchased on credit assets, guarantee funds and other types of provision stipulated by the legislation.

According to the Regulations on the procedure for allocation of credits within the framework of “Every family – entrepreneur” program, approved by the decision of the Central Bank of the Republic of Uzbekistan of June 8, 2018, these microcredits are allocated at a rate of 7 percent per annum with a grace period of six months for a period not exceeding three years.

To receive a loan, individuals submit to the bank an application, a copy of the passport, as a security for repaying the loan by individuals – the recommendation of the sector leaders and citizens’ gatherings of the makhalla about concessional lending for development of family entrepreneurship.

From the date of receipt of the application for a loan within no more than three business days, a commercial bank must make an informed decision.

The loan is issued by crediting funds to an account opened in the name of the recipient, and by payment order in a non-cash form, by transfer. Another advantage of the project on the allocation of preferential microcredit to individuals is that if one cannot purchase goods for non-cash payment, based on the conclusion of the territorial Working Group, a part of the microcredit can be issued in cash.

These privileges and preferences provided by the state create conditions for families for being engaged in entrepreneurial activity, demonstration of entrepreneurial qualities of citizens, thereby improving the welfare of people.

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Each family will become an entrepreneur

According to the resolution of the President of Uzbekistan of June 7 of this year, in every district and city, primarily in remote regions and regions with severe climatic conditions, the program “Every family – entrepreneur” is being implemented.

According to the resolution of the President of Uzbekistan of June 7 of this year, in every district and city, primarily in remote regions and regions with severe climatic conditions, the program “Every family – entrepreneur” is being implemented. It is aimed at ensuring radical improvement of material conditions, significant positive changes in the quality of life of the population.

Activities for implementation of the program of relevant working groups have been established in Samarkand region. The composition of working groups is formed from the number of deputy khokims, responsible employees of territorial economic complexes, banks, the Chamber of Commerce and Industry, and a number of state and public organizations.

The President’s resolution provides issuance of preferential loans of commercial banks in the amount up to 150 times the minimum wage – for the development of family entrepreneurship based on recommendations of sector leaders on socio-economic development of territories and citizens’ gatherings of makhallas.

In addition, up to 1,000 times the minimum wage credit is issued to duly registered subjects of small business on the basis of guarantees from third parties, insurance policies, mortgage purchased on credit assets, guarantee funds and other types of provision stipulated by the legislation.

According to the Regulations on the procedure for allocation of credits within the framework of “Every family – entrepreneur” program, approved by the decision of the Central Bank of the Republic of Uzbekistan of June 8, 2018, these microcredits are allocated at a rate of 7 percent per annum with a grace period of six months for a period not exceeding three years.

To receive a loan, individuals submit to the bank an application, a copy of the passport, as a security for repaying the loan by individuals – the recommendation of the sector leaders and citizens’ gatherings of the makhalla about concessional lending for development of family entrepreneurship.

From the date of receipt of the application for a loan within no more than three business days, a commercial bank must make an informed decision.

The loan is issued by crediting funds to an account opened in the name of the recipient, and by payment order in a non-cash form, by transfer. Another advantage of the project on the allocation of preferential microcredit to individuals is that if one cannot purchase goods for non-cash payment, based on the conclusion of the territorial Working Group, a part of the microcredit can be issued in cash.

These privileges and preferences provided by the state create conditions for families for being engaged in entrepreneurial activity, demonstration of entrepreneurial qualities of citizens, thereby improving the welfare of people.