The interest rate on family business loans in Karakalpakstan will be reduced from 17.5% to 12%. This was announced by the President at a meeting in Nukus.

At the meeting, it was noted that 2,000 entrepreneurs in Karakalpakstan have repaid loans worth 2 trillion 145 billion soums on time over three years, becoming reliable clients of banks. Based on this experience, it was emphasized that there is an opportunity to provide employment and income to at least another 30,000–40,000 people.

The bank responsible for the region will open a credit line of 300 billion soums at a 16% rate for reliable clients. The Entrepreneurship Development Company will cover 4% of the loan interest. As a result, the credit rate for entrepreneurs will be 12%. The remaining eight banks have been tasked to develop similar favorable credit products within one month.

Next year, credit resources will be doubled, and $100 million will be directed to "driver" projects based on the Uychi and Zarbdor experience. This aims to provide income to at least 50,000 people.

Over two years, 370 billion soums have been allocated to business infrastructure, resulting in the launch of 2,200 trade and service facilities and the creation of nearly 10,000 jobs. It was noted that the establishment of a 60-place kindergarten, football and workout fields in the Diyqan Arna mahalla of Nukus district has brought a new mood to the neighborhood.

District governors have been tasked to implement two more projects this year that stimulate economic growth and employment, and to provide income to 10,000 people. For this, 100 billion soums have been allocated, and financing will open within a week.

Source: www.gazeta.uz