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Friday, February 28, 2020

Central Bank of Uzbekistan: Loans ensure economic growth

Strong relations between the banking system and small businesses and entrepreneurs is critical to Uzbekistan's economic growth, the Central Bank of Uzbekistan recently announced.

Commercial banks in Uzbekistan financed 12,338 projects in 2013 targeting consumer goods, commodities, agriculture and the development of industrial power.

Banks have also taken an active role in helping young graduate start their own businesses.

"The regional branches of the commercial banks pay enough attention to job placement of the graduators of the specialized professional and secondary colleges, creation of favorable circumstances to start their entrepreneurial activity, financial support which is one of the actual tasks of present time," the bank said.

The bank has also placed an emphasis on empowering women.

"We know that rendered financial and technical support to businesswomen in different sphere and branches of the economy were up," the bank said. "That becomes the important factor in improvement of wellbeing of a number of families. The most general is that due to entrepreneurship the family budget becomes stronger and it was created the ground for future of the children."