In Uzbekistan, banks will provide funding for neighborhood startups.

On December 16, Shavkat Mirziyoyev held a meeting focused on priority tasks for ensuring employment and increasing the income of the population in mahallas, with the participation of banks, reports the president's press service.

Venture companies will be established in the country, allocating $50 million to support mahalla startups. These will be created by state banks, each of which will also seek private partners to develop business accelerators.

15,000 entrepreneurs are selling their products on electronic platforms, boosting their incomes. In this context, the UN Development Program, in collaboration with a private bank, plans to train 1,300 Uzbek women and develop skills for selling goods online among the population. It was emphasized that 60 leading cities and districts can eliminate unemployment and poverty, requiring the employment of 2 million people and lifting 417 thousand families out of poverty.

Regional leaders and bank heads were presented with plans for 2025 aimed at ensuring income for over 5 million people and lifting 1.5 million citizens out of poverty. Additionally, authorities were tasked with increasing the volume of household deposits to $11 billion by 2025.

It was previously reported that Uzbekistan has adopted a new system for developing startup projects. The Ministry of Justice explained who would be eligible for government support.