Mortgage expands its horizons for young families of Uzbekistan. In 2012-2013 at the expense of commercial banks it is planned to construct one hundred 48-apartment buildings in the country. The interest rate on mortgage loans issued for a term of 15 years does not exceed refinancing rate of the Central Bank.

This information was announced at a press conference on \"The role of the banking system in the enforcement of the State program \'Year of the Family\'\", organized by the Central Bank at the National Press Center.

Importance of practical measures implemented by the government to stimulate development of small business and entrepreneurship, aimed at this raising this sector to a new level was highlighted. A favorable business environment has been created - new privileges, preferences and opportunities provided in accordance with laws, decrees, resolutions, increased the pace and effectiveness of development of this vital sector. The achieved results have a direct impact on addressing topical issues such as providing employment, increasing revenues, further strengthening of our stable life.

The national banking system provides a financial boost of entrepreneurship development in the country. Last year, the volume of credits allocated to small and private companies and firms grew by 1.5 times in comparison with 2010 and exceeded 4.4 trillion soums. (Exchange rate of CB 1USD-1832,19 soums).

Special attention, along with other sectors in 2011 was given to stimulate business for future entrepreneurs, the press conference noted. 25.6 billion soums of soft microcredits - 3.2 times more compared to 2010 - has been allocated by banks to finance business plans of graduates of professional colleges.

Microcreditbank expanded the volume of microfinance services to small business entities 1.3-fold compared to 2010. In the past year 159.7 billion soums has been allocated for the development of their businesses. The third part was directed on development of family business and handicrafts in rural areas.

A special role in 2012 is given to financial support of small business within the State program \'Year of the Family\'. Measures are taken to direct about 4.5 trillion soums worth if loans to this area. Micro-credit will amount to more than 843 billion soums.

Primary attention is paid to support the family business and crafts of women entrepreneurs. For these purposes 365 billion soums in soft loans are provided.

Young families will get support for their businesses worth 68 billion soums, the graduates of secondary schools will receive 28.3 billion soums for implementation of business projects.

More than 40 billion soums worth of credit from the special fund for concessional lending to commercial banks are used to finance innovative projects of small business organizations in the industrial sector. Concessional loans from this fund will also be allocated to dekhkana and farmers in remote and inaccessible areas and cities.

A good incentive for the purchase of durable goods of domestic production is the program \"Consumer loans - for young families\".

Loans of up to 200 times the minimum wage provided for up to three years at a reduced interest rate allows them to raise their standards of living, the press conference noted. (Source: UzReport.com)