of January 31, 2017 No. PP-2746
About measures for further expansion and simplification of system of microcredit of small and private business
For the purpose of expansion of access to microfinancial services for the graduates of averages who are again entering on the labor market special, professional and the highest educational organizations, physical persons which came back from compulsory military service, the unoccupied citizens registered in bodies for work, and other segments of the population needing employment and also stimulations of development of family, private entrepreneurship, other types of activity providing creation of new workplaces:
1. Approve the offer of the Ministry of Economics, Ministry of Finance, Central bank of the Republic of Uzbekistan and commercial banks on implementation according to the procedure of experiment in the city of Tashkent of the new scheme of microcredit for subjects of small and private business according to which the priority contingents of persons for scope microcredit are:
graduates of averages special, professional and the highest educational organizations,
the physical persons which came back from compulsory military service
the unoccupied citizens registered in bodies for work
the population carrying on family and private business and also other persons needing employment according to the petition of self-government institutions of citizens.
2. Consider the main objectives of preferential microcredit:
creation of new workplaces in the sphere of small business, first of all family and private entrepreneurship;
ensuring the maximum availability of microfinancial services to the above-stated contingents of persons for the purpose of their active involvement in business activity by provision of soft credits;
increase in level of the income of needy and vulnerable segments of the population, strengthening of role of self-government institutions of citizens in employment of the population.
3. Approve:
forecast parameters of provision of the preferential microcredits by commercial banks for development of business activity in Tashkent according to appendix No. 1;
the list of core activities for which implementation the microcredits by commercial banks, according to appendix No. 2 are provided.
4. Determine that the preferential microcredits are provided with the following provisions:
the microcredit amount - to 200 sizes of minimum wage;
for up to three years with six-months grace period on payment of principal debt;
with annual interest rate: during creation of one workplace - in the amount of 9 percent, two workplaces - 8 percent, from three to four workplaces - 7 percent, five and more workplaces - 6 percent.
To render commercial banks together with Chamber of Commerce and Industry of the Republic of Uzbekistan every possible organizational assistance and the practical help to applicants in registration of the microcredits and preparation of business plans.
5. Enter procedure according to which, in case of insufficiency at the applicant of the ensuring recoverability on the microcredit provided according to requirements of the legislation acceptance by commercial banks as providing in case of microcredit is allowed:
to the hundredfold size of minimum wage - acquired property and the guarantee of self-government institutions of citizens;
exceeding the hundredfold size of minimum wage - the guarantee of the third party, insurance policies of insurance companies and other types of providing within the legislation.
In case of issue of the microcredits to borrowers commercial banks have the right to consider the expenses connected with registration of mortgage providing the borrower in the total amount of the credit.
6. To Central Bank of the Republic of Uzbekistan with involvement of the involved commercial banks following the results of 2017 to carry out generalization of results of experiment and on this basis to make offers on distribution of this experience of microcredit to all regions of the republic.
7. To impose control of execution of this resolution on the deputy prime minister of the Republic of Uzbekistan R. S. Azimov and the Chairman of the Central bank of the Republic of Uzbekistan F. M. Mullazhanov.
President of the Republic of Uzbekistan
Shavkat Mirziyoev
Appendix No. 1
to the Resolution of the President of the Republic of Uzbekistan of January 31, 2017 No. PP-2746
№ |
Bank name |
The number of branches of the commercial banks providing the microcredits |
The forecast amount of provision of the microcredits by commercial banks in 2017 (one billion bags) |
1. |
Uznatsbank |
16 |
35,0 |
2. |
Uzpromstroybank |
16 |
35,0 |
3. |
People's Bank |
12 |
30,0 |
4. |
Mortgage bank |
10 |
27,0 |
5. |
Usak bank |
5 |
27,0 |
6. |
Mikrocreditbank |
1 |
12,0 |
7. |
Aloka bank |
2 |
10,0 |
8. |
Kishlak kurilish bank |
1 |
6,0 |
9. |
Other commercial banks |
63 |
95,0 |
Total |
126 |
277,0 |
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The document ceased to be valid since December 13, 2019 according to appendix 2 of the Presidential decree of the Republic of Uzbekistan of December 12, 2019 No. UP-5893