Regulatory Alerts2017-09-08 | 704Added · Updated
On Measures for Organizing the Activities of the State Fund for Supporting the Development of Entrepreneurial Activity under the Cabinet of Ministers of the Republic of Uzbekistan
The Cabinet of Ministers approved the Charter of the State Fund for Supporting the Development of Entrepreneurial Activity, establishing its legal status, governance structure, and operational rules. The Fund is mandated to provide financial support to small business entities through guarantees covering up to 50% of commercial bank loans (capped at 2 billion UZS generally, or 5 billion UZS for intensive orchards and greenhouses) and by compensating interest expenses on loans up to 8 billion UZS in national currency or equivalent in foreign currency. Specific compensation rates are set at 5%, 8%, or 3% for national currency loans and 40% (max 3%) or 50% for foreign currency loans depending on project type and source. The Fund's resources are formed from initial capital transfers, state budget allocations, Central Bank profits, and international grants, with expenditures strictly limited to guarantee payments, interest subsidies, and operational costs.
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