Uzbekistan will launch a new digital financial platform from 1 July aimed at simplifying access to finance for entrepreneurs, as part of broader efforts to support small businesses, encourage innovation and accelerate private sector development.
Under a government resolution, the platform will allow entrepreneurs to submit loan applications and receive offers from multiple commercial banks through a single online system. Authorities say the initiative is designed to reduce administrative barriers, improve competition among lenders and make financing more accessible for small and medium-sized enterprises (SMEs).
The new platform forms part of a wider package of reforms that also includes the introduction of AI-powered advisory services. Commercial banks will use AI tools to generate business ideas and recommendations tailored to the economic profile and development potential of local communities.
Small businesses play a central role in Uzbekistan’s economy. According to official statistics, the sector accounts for more than half of the country’s gross domestic product and employs the majority of the workforce. In recent years, the government has prioritised expanding access to finance, reducing bureaucracy and creating new opportunities for entrepreneurship.
As part of the latest reforms, entrepreneurs who have previously received microloans and maintained a positive credit history will be able to access larger unsecured loans. The maximum unsecured portion of a loan will double from 100 million soums (approximately $8,350) to 200 million soums (around $16,700).
The Entrepreneurship Development Company will also expand financial support mechanisms by providing interest-rate subsidies for loans of up to 5 billion soums (approximately $418,000), regardless of the overall size of the credit facility.
The reform package also includes incentives aimed at encouraging innovation and business modernisation.
Each year, 100 top-performing entrepreneurs participating in government support programmes will become eligible for grants of up to 300 million soums (approximately $25,000). The funding can be used for business digitalisation, the implementation of international standards and the adoption of environmentally sustainable technologies.
Officials say the measures are intended to improve productivity, strengthen competitiveness and help local businesses adapt to rapidly changing market conditions.
By bringing together lending opportunities from multiple banks and integrating AI-based business support services, the government hopes to create a more efficient financing ecosystem and unlock new growth opportunities for entrepreneurs across the country.
The new measures will take effect from 1 July 2026 under the government’s Comprehensive Small Business Support Programme.
Planned U.S.-Iran talks in Switzerland on Friday will no longer take place after Vice President JD Vance withdrew from a scheduled trip to meet Irania...
Nearly 300 students and staff were evacuated after a fire broke out at an elementary school in northern Tokyo on Friday morning, leaving 10 people wit...
The United Arab Emirates has set a minimum age of 15 for social media use, becoming the first Arab country to introduce such a restriction as governme...
Start your day informed with the AnewZ Morning Brief. Here are the top stories for 19 June, covering the latest developments you need to know....
Labour mayor Andy Burnham cleared a path to ousting British Prime Minister Keir Starmer after winning a parliamentary seat in northern England on Frid...
Planned U.S.-Iran talks in Switzerland on Friday will no longer take place after Vice President JD Vance withdrew from a scheduled trip to meet Iranian negotiators, Swiss authorities said.
The United Arab Emirates has set a minimum age of 15 for social media use, becoming the first Arab country to introduce such a restriction as governments worldwide seek to address growing concerns over the impact of online platforms on children.
Labour mayor Andy Burnham cleared a path to ousting British Prime Minister Keir Starmer after winning a parliamentary seat in northern England on Friday in what could be most consequential local election in more than six decades.
World Cup action delivered impressive wins and late drama on 18-19 June. Mexico booked their place in the knockout stage as Group A winners, while Jonathan David's hat-trick inspired Canada to a 6-0 thrashing of Qatar.
Donald Trump has said the U.S. will resume bombing Iran if Tehran doesn't "behave," at the sidelines of the G7 summit in France. Earlier, the U.S. President criticised Israel for its tactics against Hezbollah, saying it was unnecessary to bomb entire apartment buildings to tackle militants.
U.S. President Donald Trump sought a deal with Iran "out of deperation," Iranian Supreme Leader Mojtaba Khamenei has said, in a statement on social media. Khamenei added that he himself "held a different view," to Trump, but allowed the agreement after receiving assurances from Iran's President.
Britain has announced an additional £8 million ($11 million) to help Pakistan combat illegal migration, human trafficking and organised crime, while praising Islamabad's role in diplomacy that helped secure the recent U.S.-Iran agreement.
Caleb Yirenkyi’s stoppage-time goal secured a 1-0 win for Ghana over Panama as World Cup action delivered a mix of late drama and key results. Colombia and England also began their campaigns with victories, while DR Congo held Portugal in a historic 1-1 draw and Austria beat Jordan 3-1.
The European Commission has announced €493 million in emergency support for the Ebola response, including funding for vaccines, treatment and health security measures.
Planned U.S.-Iran talks in Switzerland on Friday will no longer take place after Vice President JD Vance withdrew from a scheduled trip to meet Iranian negotiators, Swiss authorities said.
The European Parliament has adopted one of its strongest resolutions on Georgia to date, calling for the release of political prisoners, backing sanctions against senior officials and warning that continued democratic decline could jeopardise the country's EU ambitions and visa-free travel regime.
The Caspian Sea has retreated by up to 35 kilometres along Kazakhstan's coastline since 2006, raising fresh concerns about the future of the world's largest inland body of water and the communities, industries and ecosystems that depend on it.
Iranian President Masoud Pezeshkian has remotely signed a memorandum of understanding (MoU) with the U.S., brokered by Pakistan, under which Tehran and Washington agreed to extend their ceasefire and begin negotiations towards a peace agreement.
Kazakhstan and Iran have agreed to accelerate cooperation on transport corridors, giving Kazakhstan access to key Iranian ports in a move aimed at strengthening trade routes and reducing reliance on transit routes through neighbouring countries.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment