❗️ Collateral-free loans to be provided to certain leading entrepreneurs
The Presidential Decree “On measures to increase the incomes of the population through the creation of sustainable jobs and accelerated development of small businesses” (DP-193, dated September 11, 2026) has been adopted.
📌 Under the leadership of the Chairman of the Council of Ministers of the Republic of Karakalpakstan, khokims of the regions and the city of Tashkent, respective territorial headquarters for creating sustainable jobs and increasing the incomes of the population have been established, while district (city) headquarters have been established under the leadership of district (city) khokims.
💸 According to the Decree, based on a decision of the district (city) headquarters, collateral-free loans of up to UZS 5 billion may be provided to leading entrepreneurs who have involved families included in the Social Register in cooperation, at the rate of UZS 50 million per each family involved.
🏛 The authority to manage preferential credit resources under the programs for the development of family entrepreneurship and youth entrepreneurship is transferred to the district (city) headquarters.
📋 From October 1, 2026, a mechanism will be introduced whereby part of the interest expenses on commercial bank loans for self-employed persons and small and medium-sized businesses will be compensated by the Joint-Stock Company “Business Development Company” (the Company) or from other designated sources, based on decisions of the district (city) headquarters. In this regard:
🔹 district (city) headquarters shall, taking into account local conditions, project efficiency and priority areas, make decisions on providing compensation and shall be responsible for the targeted and effective use of the compensation;
🔹 decisions of the district (city) headquarters shall serve as the basis for providing compensation. When providing compensation, the introduction of requirements relating to credit history, entrepreneur category, stability rating and other requirements shall not be permitted;
🔹 business entities shall retain the right to apply directly to the Company for compensation in accordance with the general procedure established by legislation;
🔹 double compensation of the same interest expenses under one financing arrangement shall not be permitted.
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