From the funds of the Fund for Supporting Young Entrepreneurs, established by the Decree of the President of the Republic of Uzbekistan dated April 21, 2021 No. PP-5088 "On Measures to Organize the Activities of Youth Industrial and Entrepreneurial Zones and Support Youth Entrepreneurial Initiatives," during 2021-2024, JSCB "Microcreditbank" allocated loan funds in the equivalent of 118.6 billion soums for the projects of 114 young entrepreneurs.
This fund was reorganized into the State Targeted Fund for the Development of Youth Entrepreneurship under the Youth Affairs Agency in the form of a state institution on the basis of the Fund for Supporting Young Entrepreneurs of the Ministry of Investments, Industry and Trade by the Decree of the President of the Republic of Uzbekistan dated February 14, 2025 No. PP-60 "On Measures to Improve the System of Supporting Business Projects Aimed at Ensuring Youth Entrepreneurship and Their Employment."
Recently, a meeting was held between the Deputy Chairman of the Management Board of JSCB "Microcreditbank" I. Djumaniyazov and the Executive Director of the State Targeted Fund for the Development of Youth Entrepreneurship Shakhzod Omonov. The open and sincere dialogue concluded with the signing of the General Agreement No. BK-2/2025 on the provision of financial resources from the State Targeted Fund for the Development of Youth Entrepreneurship.
This agreement is significant because it is aimed at strengthening cooperation in supporting youth entrepreneurship, providing microfinance services, and developing knowledge and skills for young people.
"The cooperation agreement will serve to support youth business initiatives, implement innovative ideas, and further develop the business environment," says I. Djumaniyazov, Deputy Chairman of the Management Board of JSCB "Microcreditbank."
It should be noted that the General Agreement No. BK-2/2025 further strengthens cooperation between JSCB "Microcreditbank" and the Youth Affairs Agency, creates new opportunities for young people and opens the way for talented youth in the business world.
Bank Information Service
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