President Shavkat Mirziyoyev at the government meeting on Monday instructed the Uzbek banks to increase the share of SMEs in their loan portfolio, presidential press service said.
Reportedly, over the past five years, the share of loans to SMEs in the loan portfolio has decreased from 40% to 28%. Shavkat Mirziyoyev stressed the need to take measures to increase this share to 40%, which is equivalent to 120 trillion soums.
He added that it was big time to stop the practice of financing major projects at the expense of SMEs.
In addition, over the past six years, 1.6 million people have built a positive credit history. While, the requirements for the remaining 7.5 million clients with an average credit history are becoming stricter, which is a natural process.
The president pointed out that banks were required to become catalysts that help improve the credit history of such clients and turn them into entrepreneurs in the future.
Hу proposed to focus on 100 thousand clients with projects from the "middle category" on the basis of an individual three-month plan next year. As part of this work, it is supposed to take into account their payments for taxes, electricity, gas and other payments, increase their financial literacy and improve their projects to help them become entrepreneurs.
The meeting also discussed measures to transform 60 leading districts and cities of the country into areas free from unemployment and poverty. To do this, it is necessary to employ 2 million people and lift 417 thousand families out of poverty.
The mayors of districts and cities were instructed to improve the infrastructure in these areas.
Shavkat Mirziyoyev pointed out that in order to turn the opportunities into results, the banking system must be financially stable. He noted that it was important not to depend only on public funds, but to attract $6 billion from external sources. The task was also set to increase the volume of population deposits to $11 billion next year.
To this end, he proposed to create a working group in each bank responsible for attracting funds from abroad, establish systematic work with foreign banks, conduct road shows abroad, issue Eurobonds, improve bank ratings and adapt to international standards.
At a meeting with business leaders in August, the president announced a gradual abandonment of the practice of providing state funds to major state-owned enterprises. Today, 92 trillion soums, or 30% of loans issued by state banks (as of August 2024), are accounted for by 10 large state-owned companies.
Over the next two years, the use of such funds should be reduced by at least 40%. This will free up resources for private businesses, where at least 30 trillion soums will be directed.
