TASHKENT -- Uzbekistan is creating a State Foundation for the Support of Entrepreneurial Activity, UzDaily reported Friday (August 17), quoting a resolution signed by President Shavkat Mirziyoyev.
The foundation is supposed to encourage small business formation by serving as a guarantor on up to 50% (meaning $500,000 or 2.1 billion UZS) of loans offered to those small businesses by commercial banks. It is also supposed to cover interest payments on loans to those businesses that do not exceed $1 million (4.2 billion UZS).
