NEWS AND EVENTS
October 21, 2011
Small businesses receive loans for 3.1 trln. soums
Central Bank of Uzbekistan in cooperation with German Society for International Cooperation (GIZ) held an international conference “Role of banking system in development of small business and private entrepreneurship”.
Senators and MPs of Oliy Majlis of Uzbekistan, representatives of international financial institutions, commercial banks, ministries and departments and others participated at the event.
The conference was aimed at developing recommendations and proposals on further deepening reforms in the banking-financial sector and ensuring stability of the system, as well as further expanding participation of banking-financial system in supporting small and private businesses, etc.
The conference discussed role of banking services in developing small and private businesses, increasing quality of services of banking-financial sector, advanced foreign experience in the direction, issues of cooperation with international financial institutes at financing investment projects in small and private business sector.
In particular, it was noted that Uzbekistan improved banking system and services, rendered to small and private businesses, as well as simplified mechanism of issuing loans.
Participants noted that within the state programme “The Year of small business and private entrepreneurship” the banks carry out great work on financial support of small and private businesses.
In line with the programme, it is planned to allocate 3.8 trillion soums (October 18, 2011. 1 USD = 1757,83 UZS) of loans to small and private businesses in 2011. In nine months of 2011, the bank allocated loans for 3.1 trillion soums to the sector, which is 1.5 times more year-on-year.
During the conference, the participants also discussed issues of attracting long-term preferential credit lines of international financial institutions to finance projects of small businesses. Currently, the banks attracted credit lines of the World Bank, Asian Development Bank, Islamic Development Bank, State Development Bank of China, Korean Eximbank, German banks and others. In nine months of 2011, some US$99.2 million were issued to projects of small businesses due to credits of the international financial organizations, which also rose by 1.5 times.
In the sectional discussions, the participants discussed role of banking-financial system in financial support of small and private businesses, security of loans, introduction of group crediting, etc.