State banks have been tasked with securing one billion dollars in loans to support business development.

Shavkat Mirziyoyev has instructed state banks to attract up to one billion dollars from foreign organizations for loans aimed at business development, according to a meeting of the president regarding measures to reduce poverty.

The head of state highlighted the experiences of four districts in increasing access to banking services. Since the beginning of 2024, a combination of four approaches has enabled 3.3 million people to secure income, with average earnings rising by 40% to 10.5 million sums. In every fourth district, unemployment has dropped below 5%.

Over the past six years, around 750,000 citizens have obtained and repaid loans on time through family entrepreneurship programs, leading to the establishment of 58,000 enterprises. Banks will be able to grant them condition-free loans of up to 300 million sums for business expansion.

Under the initiative of the People's Bank, loans of up to 50 million sums will be issued as part of a financial accessibility program funded by the ADB, totaling 150 million dollars.

It was previously reported that a self-imposed ban on loan issuance might emerge in Uzbekistan. Amendments to the legislation are expected to protect citizens from fraudsters.