2010 – Year of Harmonically Developed Generation in Uzbekistan

2010 _ Year of Harmonically Developed Generation in Uzbekistan

2010 _ Year of Harmonically Developed Generation in Uzbekistan

On the initiative of the Uzbek President Islam Karimov, 2010 was announced as the Year of Harmonically Developed Generation in Uzbekistan. The State Programme of Harmonically Developed Generation was developed and adopted, which envisages complex of measures on developing physically and spiritual health generation, as well as their intellectual potential.

The programme envisages mobilization of existing resources and opportunities. It is planned that 8 trillion soums will be directed to programme implementation, including 1.8 trillion soums of state resources, 3.3 trillion soums – loans of commercial banks and over 2.7 trillion soums – own resources of programme executors.

Various organizations, including ministries and departments, commercial banks, NGOs and other are working in implementing the programme, Central Bank of Uzbekistan said.

The report underlined that over 70% of active population in Uzbekistan employed by small businesses and entrepreneurs. They produce about 50% of GDP. Development of small businesses and entrepreneurship will help to raise well-being of population, expand internal consumer markets, and create new jobs. Taking into account above mentioned factors, commercial banks of Uzbekistan pay attention to implementation of tasks, set at the State Programme of Harmonically Developed Generation.

In particular, the commercial bank issued loans for 1.15 trillion soums within the State Programme of Harmonically Developed Generation up to 1 May 2010. At the same time, the own resources of the commercial bank were 780.4 billion soums, loan of foreign credit institutions – 26.9 billion soums, off-budget funds – 2.5 billion soums and resources of Fund for Reconstruction and Development of Uzbekistan – 339.2 billion soums.

The commercial banks are paying attention to realization of youth entrepreneurship initiatives during the financing projects, including in rural areas.

For last four months, small businesses and entrepreneurship allocated loans for 809.7 billion soums, including small loans for 170.2 billion soums, which is up 1.4 times and 1.9 times up year-on-year respectively.

The Central Bank said that currently loans play important role in production of goods and expansion of services, as well as creation in new workplaces.

The country pays special attention to material and spiritual support of young families and providing them with habitations and improving living standards. Young families received mortgage loans for reconstruction of habitations and reconstruction of houses for 27.1 billion soums. The bank is planning to increase this number to 115 billion soums.

The funds are issued to fulfill staring capital of new entrepreneurs. Currently, over 38.5 million soums were allocated within the programme.