On April 15, President Shavkat Mirziyoyev chaired a government meeting on improving business environment via conference call. Shavkat Mirziyoyev said that 2 trillion soums of soft loans were provided to banks for use in 2022.
However, today only 53% of applications for 790 billion soums submitted to banks have been financed, and in some provinces - 25-30%. The work of banks in this direction has been criticized, and additional instructions have been given.
The President said that recently business activity has decreased in some provinces, entrepreneurs are facing credit, tax and infrastructure problems.
The head of state said that due to a shortage of funds from the State Entrepreneurship Support Fund, compensation payments had decreased. The fund has a debt to banks of a total of 378 billion soums. Finance Minister Timur Ishmetov was instructed to transfer 400 billion soums to the fund by May 1, and then another 500 billion soums within two months.
“If we do not give money to the Entrepreneurship Support Fund, the development of entrepreneurship will halt. Yes, this is a large amount - 1 trillion soums - but we have no other way," the president said.
In the service sector, the NBU will provide 5.5 billion soums in loans at the expense of attracted $200 million. At the same time, the loan rate will not exceed 18%, taking into account 5% compensation from the Entrepreneurship Fund.
At the same time, banks will be allocated $300 million to finance SME projects in the provinces. These funds will be placed in the national currency at a rate of 10% for a period of 7 years in banks offering the best conditions for entrepreneurs. At the same time, the rate on a loan provided to an entrepreneur will not exceed 14%.
“Every dollar, every soum, whether it is allocated from the budget or from the bank, is the money of the people. Those responsible for the [development] of infrastructure, gas, electricity are engaged in large-scale bribery. Banks engage in massive bribery. I have information. We find money with such difficulty and try to convey it in an honest way to our people, but on our way are illegal allocation of land, sale of land. You know how insulting it is for me to hear this,” said Shavkat Mirziyoyev.
The problems of exporting enterprises were analyzed and additional opportunities were identified. A simplified VAT refund mechanism will be introduced, 80% of the funds will be returned within 7 days without additional checks.
A new system of continuous study and quick resolution of exporters' issues has been announced. To do this, a constantly working headquarters and a call center with the number "1094" will be created.
Tanzila Narbayeva, Chairperson of the Senate and head of the National Anti-Corruption Council, reported in early April that the number of corruption crimes in the banking sector has tripled in 2021.
