Uzbekistan Commits Extra $200M To Youth Business Development

(MENAFN- Trend News Agency) TASHKENT, Uzbekistan, February 24. President of Uzbekistan Shavkat Mirziyoyev has announced an additional $200 million in funding to support youth entrepreneurship, Trend reports via the press service of the Uzbek President.

The announcement was made during a meeting chaired by the president with young people, focused on expanding opportunities to support youth-led initiatives and business development.

The new measures will raise the maximum loan amount for self-employed young citizens from 100 million soums ($8,173) to an impressive 300 million soums ($24,520). The limit on concessional loans for youth entrepreneurship projects will increase from 5 billion soums ($408,650) to 10 billion soums ($817,300).

Moreover, aspiring young entrepreneurs can secure investments of up to $100,000 for their groundbreaking startup initiatives.

Exciting new financing options will soon be available for young individuals eager to invest in franchises from local brands in the services and catering industries, which have successfully generated over 1,000 jobs. The innovative mechanisms are crafted to streamline the establishment of new branches and enhance the growth of thriving domestic business models.

The initiative aims to strengthen youth economic participation, promote innovation, and accelerate the growth of small and medium-sized enterprises nationwide.

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