Representative of Central Bank, ministries and commercial banks of Uzbekistan, Chamber of Commerce and Industry of Uzbekistan, as well as international expert of GTZ Dominick Lesaffre [transliterated].

After studying requirements and need of future participants of credit guaranteeing mechanism in Uzbekistan, international expert in cooperation with the Central Bank of Uzbekistan developed preliminary model of credit guaranteeing, which meets the Uzbek economy terms and needs of the country.

Currently, inadequacy or absence of security seriously bars small businesses to receive credit at commercial structure, which in its turn decreases business activity of population and limits simulation for development of small productions.

The creation of guarantee fund will meet interests of the government and commercial structures, as well as population. The governments create such funds in the world. International experience shows that creation of guarantee mechanisms on small businesses support solves the problems. Providing guarantee and bail of other organizations allows small businesses to receive financing.

Guarantee funds, providing security on loans to small and medium business, operate in many countries of the world. The funds allow businesses to use financial resources of credit institutions. This practice helps to support businesses activity and stimulate new enterprises. The funds also assist to decrease unemployment.

Opinions and proposals of participants will be taken into account for further work of the Central Bank and GTZ project on creating credit guarantee scheme for Uzbekistan. Local ministries and departments, as well as interest sides, will participate in development of the credit guarantee schemes.