An Entrepreneurship Development Company (EDC), which will use new tools to support small and medium-sized businesses, will be established in Uzbekistan. As part of this project, 1.2 trillion soums and $100 million will be allocated from the state budget, Gazeta.uz reported.
On November 10, President of Uzbekistan Shavkat Mirziyoyev signed the Decree on the modernisation of small and medium-sized businesses and the improvement of state support. One of the main steps is the reorganisation of the State Fund for Support of Entrepreneurship into the EDC. The founder is the Ministry of Economy and Finance.
The Company will be tasked to use new additional assistance measures that contribute to comprehensive support for small and medium-sized businesses. These include equity financing and service mortgages, among others.
