OREANDA-NEWS. June 22, 2010. Thanks to the purposeful measures undertaken by the government of Uzbekistan, currently all necessary conditions for successful development of small business and private entrepreneurship are created in the country.

Small business crediting is a priority direction of activity in the majority of banks of Uzbekistan. Agrobank is one of the leaders among local banks on the volumes of credits directed on development of small business and private business.

Komil Shukurov, Head of Department of crediting and monitoring of small business subjects of Agrobank, spoke in an interview.

- Really, now Uzbekistan is paying special attention to support and development of small business and private entrepreneurship. For this reason Agrobank carries out active crediting of domestic business.

The bank has financed 5,712 projects of small business entities so far, and the total sum of allocated credits made up 42.2 billion soums, including 41.4 billion soums allocated at the expense of own funds of Agrobank, and 791.8 million soums at the expense of involved funds. The financial assets basically went on acquisition of high-efficiency machinery and technologies on manufacture of goods using the greatest demand of the population.

With a view of creation of more favorable business climate for development of small business and farming, Agrobank has increased volume of microcredits which comprised 13.8 billion soums. As a result, more than 7,670 new workplaces were created at the expense of issued credit funds.

For the sake of businessmen Agrobank works actively on attraction of credit resources of foreign financial institutions. In particular, throughout several years Agrobank has utilized credit line of the Asian Development Bank for the sum USD10.3 million. A new credit agreement worth USD20 million has been signed with the ADB.

Agrobank actively finances various directions of agrarian sector of the country. In particular, in 3 months of the current year the bank issued microcredits worth 1.31 billion soums on increase of livestock of cattle in personal subsidiary, dekhkan farms. Besides, Agrobank allocated 18.7 billion soums for development of small enterprises, farms and individual business.

The bank is paying great attention to input of new and expansion of operating industrial objects, development of industrial, social and market infrastructure. For these purposes Agrobank has allocated credits worth 16.7 billion soums.

The bank allocated credit resources for a total sum of 564.8 million soums on expansion of home-based labor, including family business and workmanship.

Also the bank carries out active support of businesswomen. On results of the first quarter of 2010, the bank financed projects of businesswomen for 3.8 billion soums. Thanks to this activity, 530 new workplaces were created.

In the first three months of current year, Agrobank allocated credits for 11.1 billion soums on the expansion of manufacture of foodstuff and home market saturation. Credit resources worth 6.14 billion soums were given with a view of stimulation of manufacture of domestic non-foods.

I would like to note especially that Agrobank pays much attention to involving in enterprise activity of youth, first of all graduates of professional colleges and higher educational institutions, especially in countryside. In particular, Agrobank issued credits to graduates of professional colleges for 422 million soums, and to graduates of higher educational institutions for 706 million soums.

Certainly, purposeful measures taken by Agrobank in the given direction create favorable conditions for the accelerated development and the successful organization of small-scale business and private entrepreneurship in Uzbekistan. Export of quality and competitive production constantly grows, and the sphere of the services rendered at high level considerably extends as a result of increase in the volumes of crediting of small businesses.