The President of Uzbekistan announced plans to create 1.5 million jobs and expand the small business support program.

Uzbekistan, Tashkent – According to AN Podrobno.uz, during a meeting focused on the results of poverty reduction efforts for 2024 and plans for 2025, the President of Uzbekistan highlighted significant achievements of the family business program and outlined new development prospects, as reported by a Podrobno.uz correspondent.

https://podrobno.uz/cat/politic/prezident-uzbekistana-anonsiroval-plany-po-sozdaniyu-1-5-milliona-rabochikh-mest-i-rasshireniyu-prog/2024-12-17 08:14:01

Over the past six years, approximately 750,000 residents of the country have successfully repaid their loans and established profitable businesses under the "Family Business" program. The President emphasized that banks must continue to support their clients by providing growth opportunities. Under the small business support program, they will be able to receive unconditional loans amounting to 300 million sums. These measures aim to create 1.5 million new jobs in the coming years.

At the initiative of the "People's Bank," entrepreneurs will also be offered overdrafts and unsecured loans of up to 50 million sums. The Asian Development Bank is prepared to allocate 150 million dollars to develop this program.

The President suggested attracting 1 billion dollars in foreign loans for nine state banks by 2025 to support an additional 250,000 entrepreneurs. This will help elevate them to a profitable level.

It is worth noting that during a meeting focused on the outcomes of efforts to reduce poverty, the President also reported that nearly 300 officials across Uzbekistan have been dismissed for negligence and irresponsibility.