Uzbekistan to simplify lending terms

By Trend

President of Uzbekistan Shavkat Mirziyoyev instructed the Central Bank to simplify the terms of lending to small businesses and family entrepreneurship, Trend reports citing the press service of the president.

At the meeting held on May 19, the president stressed that all the restrictions imposed on entrepreneurs in obtaining loans for products, equipment, raw materials and working capital should be removed.

It is noted that it's necessary to stimulate trade, expand consumer credit in order to increase purchasing power of the population.

As reported, it was found out that 55 percent of the appeals to the People's and the prime minister's receptions were related to bank loans. Entrepreneurs' appeals for banking services were positively resolved in 10 percent of cases in the National Bank, 11 percent in Microcredit Bank and 13 percent in Agrobank.

During the meeting, Mirziyoyev emphasized that banks activity should be assessed by the quality of customer service.

It was stressed that banks are an important link in the development of small business, so they should expand the scale of support to entrepreneurs and citizens, investing in "growth points" in each district.