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Tuesday, March 28, 2017

Central Bank of Uzbekistan outlines plan for healthy children initiative

The Central Bank of the Republic of Uzbekistan recently held a press conference addressing the role of the banking system in the state's youth policy.

The news conference at the National Press Center was held in conjunction with the "Year of the Healthy Child," the federal government's program for improved education, new measures for mother and child protection and an expanded role for civil society organizations in the upbringing of children.

The CBU said that the banking system's priorities for the current year are the financial support for female entrepreneurs, family businesses and graduates of professional colleges. To that aim, the CBU will allocate $70 million in microcredit to foster entrepreneurship among professional college graduates.

The CBU allocated $60 million worth of microcredit for the development of family businesses, private enterprise and handicrafts in 2013. The bank will invest $76 million in this segment of the economy in 2014.

Additionally, the CBU will provide $300 million worth of microcredit to female entrepreneurs and provide loans to small businesses where at least 50 percent of the employees are women.

The bank will also provide approximately $96 million in mortgage loans to young families for the construction or purchase of homes and apartments. The CBU also plans to grant more than $446 million in loans to rural residents for the construction of 11,000 individual homes.