PRESIDENTIAL DECREE OF THE REPUBLIC OF UZBEKISTAN

of June 9, 2022 No. UP-150

About additional measures for further enhancement of activities of the State fund of support of business activity

In recent years priority significance is attached to the state support of subjects of entrepreneurship. The state fund of support of business activity for the Ministry of Economic Development and reducing poverty provides financial aid to over 46 thousand projects of subjects of entrepreneurship in the amount of more than 15 trillion sum.

For the purpose of enhancement of system of attraction of the population to entrepreneurship and consecutive continuation of the performed reforms on development of entrepreneurship:

1. Determine the main activities of the State fund of support of business activity (further - Fund) in the direction of support of small business entities:

continuation of actions for improvement of entrepreneurial and business environment on places by financial support of subjects of entrepreneurship;

rendering assistance in increase in export volume of the republic by support of the subjects of entrepreneurship who are engaged in export;

active participation in implementation of the state, industry and regional programs giving opportunity of creation of new workplaces by development of entrepreneurship;

program implementation, aimed at the development of small business in the country, including financial support of development of the spheres which are key drivers of economic growth and creation of new workplaces in regions;

financial support of the directions, highly effective from the social and economic point of view, including projects of creation of information systems and programs, by means of the credits of commercial banks.

2. Determine that since January 1, 2023:

a) The fund provides compensation for a period of up to three years on the credits (lysinedin) of commercial banks allocated in national currency for projects of small business entities in the amount of no more than 5 billion sum with the interest rate which is not exceeding 1, the 5-fold size of the main rate of the Central bank for covering:

parts of the interest rate exceeding the main rate, but no more than 30 percent of the main rate of the Central bank - on projects of the small business entities located in areas (cities) referred to 1 - 3 category;

parts of the interest rate exceeding the main rate, but no more than 40 percent of the main rate of the Central bank - on projects of the small business entities located in areas (cities) referred to 4-5 category.

For the purpose of covering of the part exceeding 10 percent points of loan interest rate (lysinedin) of commercial banks, allocated in national currency for projects of the small business entities registered and performing activities in Sokhsky district of the Fergana region in the amount of no more than 10 billion sum with the interest rate which is not exceeding 1, the 5-fold size of the main rate of the Central bank compensation for a period of up to three years is provided.

At the same time compensation is provided by the principle "2+1" originally for the first two years of the credit (leasing), in case of full implementation by entrepreneurs of indicators of sales of products (services) and creations of the workplaces provided by the business plan, - is prolonged in addition for one year;

b) The fund provides the guarantee on the credits (lysinedin) of commercial banks:

at the rate to 50 percent (50 percent inclusive) the amounts of the credits allocated on projects of the small business entities located in areas (cities) referred to 1 - 3 category which total amount does not exceed 2,5 of one billion sum;

at the rate to 75 percent (75 percent inclusive) the amounts of the credits allocated on projects of the small business entities located in areas (cities) referred to 4-5 category which total amount does not exceed 2,5 of one billion sum.

At the same time the guarantee on additional loans within the determined general size and conditions irrespective of the guarantees of Fund for earlier obtained credits used by them is provided to the small business entities having excellent credit history.

3. To the Ministry of Economics and finance together with commercial banks to take measures for the termination since October 1, 2024 of compensation payments in case of incomplete accomplishment of indicators of creation of workplaces and turnover of products (services) specified in the business plan of the credits (leasing) allocated by way of rendering the compensation help to the period till July 1, 2022.

4. Determine that compensations and guarantees on the credits and lysinedin of commercial banks are provided to small business entities taking into account the available financial resources and risks of Fund, except for the credits providing:

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