Loans at 12% and 7% Interest Rates to be Allocated to Entrepreneurs in Karakalpakstan
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19.09.2026 13:20:00
Loans at 12% and 7% Interest Rates to be Allocated to Entrepreneurs in Karakalpakstan
At a meeting held in Nukus, Shavkat Mirziyoyev announced the launch of a program to provide loans at a 12% interest rate to reliable entrepreneurs.
It was noted that 2,000 entrepreneurs in the region have timely repaid loans totaling 2.145 trillion soums over the past three years, thereby establishing themselves as reliable bank clients.
Based on this track record, the bank responsible for the region will open a 300-billion-sum credit line for these reliable clients at a 16% interest rate. With the Entrepreneurship Development Company subsidizing 4% of the rate, the final interest rate for the entrepreneurs will be 12%. Eight other banks have also been instructed to develop similar favorable loan products for entrepreneurs within one month.
Furthermore, entrepreneurs wishing to open private kindergartens in Karakalpakstan will be granted loans at a 7% interest rate with a 15-year term, including a 5-year grace period. According to available data, preschool education coverage in Karakalpakstan has currently reached 84%.
However, this figure remains low in the Amudarya, Bo‘zatov, Taxiatosh, To‘rtko‘l, Chimboy, Xo‘jayli, and Ellikqal’a districts. Therefore, plans are being made to provide concessional loans to entrepreneurs to increase the number of private preschool educational institutions in the regions.
A number of tasks regarding the development of vocational education were also outlined at the meeting. Starting next year, the experience of Technical College No. 1 in Nukus will be implemented at one technical college each in the Amudarya, Beruni, Chimbay, and Kungrad districts.
From October 1, the loan amount available for purchasing equipment will be increased from 20 million soums to 50 million soums. Additionally, the age limit for covering the costs of learning a trade under the "Master-Apprentice" tradition will be raised from 30 to 40 years.
Based on this track record, the bank responsible for the region will open a 300-billion-sum credit line for these reliable clients at a 16% interest rate. With the Entrepreneurship Development Company subsidizing 4% of the rate, the final interest rate for the entrepreneurs will be 12%. Eight other banks have also been instructed to develop similar favorable loan products for entrepreneurs within one month.
Furthermore, entrepreneurs wishing to open private kindergartens in Karakalpakstan will be granted loans at a 7% interest rate with a 15-year term, including a 5-year grace period. According to available data, preschool education coverage in Karakalpakstan has currently reached 84%. However, this figure remains low in the Amudarya, Bo‘zatov, Taxiatosh, To‘rtko‘l, Chimboy, Xo‘jayli, and Ellikqal’a districts. Therefore, plans are being made to provide concessional loans to entrepreneurs to increase the number of private preschool educational institutions in the regions. A number of tasks regarding the development of vocational education were also outlined at the meeting. Starting next year, the experience of Technical College No. 1 in Nukus will be implemented at one technical college each in the Amudarya, Beruni, Chimbay, and Kungrad districts. From October 1, the loan amount available for purchasing equipment will be increased from 20 million soums to 50 million soums. Additionally, the age limit for covering the costs of learning a trade under the "Master-Apprentice" tradition will be raised from 30 to 40 years.
