According to the document, new preferential credit products will be introduced for citizens under the age of 31. They cover young people wishing to start their own businesses, students, graduates of higher education institutions, and entrepreneurs employing young people.
In accordance with the decision, loans will be allocated to young people for up to 7 years at annual rates equal to the Central Bank's base rate plus 4 percentage points. A grace period of up to 1 year on the principal and up to 3 months on interest payments is established.
Also, microcredits of up to 20 million soums will be allocated for learning foreign languages, digital technologies, and modern professions, and up to 50 million soums for projects related to online stores, freelancing, mobile photography, and marketing on social networks.
Preferential loans of up to 50 million soums are also envisaged for projects in home-based work, textile production and processing, and up to 100 million soums for activities in the bakery and confectionery sectors.
Loans of up to 200 million soums will be allocated for organizing retail outlets in squares, tourist areas, and other public places on a property collateral basis, and up to 300 million soums for launching passenger transportation and cargo delivery services.
The decision also introduces the "Jobs for Youth" project. According to it, individual entrepreneurs who create jobs for at least two unemployed young people will be granted loans of up to 2 billion soums.
Also, legal entities will be allocated loans of up to 10 billion soums on the condition of hiring at least two unemployed young people for every 1 billion soums of funds, and entrepreneurs employing over 1,000 citizens will receive up to 10 billion soums to expand franchise networks.
In addition, under the "Step into the Future" program, separate credit lines will be opened for students, graduates, and young entrepreneurs to implement business ideas. Their amounts will range from 20 million soums to 2 billion soums, depending on the project's scope.
Entrepreneurs employing students and young people will be allocated loans of up to 10 billion soums for a period of up to 7 years, with a grace period of up to 2 years.
