This was announced at the seminar in Tashkent, which was organized by the Central Bank of Uzbekistan. The seminar was attended by the representatives of the Uzbekistan Banking Association, Chamber of Commerce and Industry of Uzbekistan, heads of commercial banks and non-banking credit organizations in Tashkent city and Tashkent region, Association of Non-Banking Credit Organizations, as well as business circles.

It was noted that in line with the State Programme “On the Year of the Small Businesses and Private Entrepreneurship”, it is planned that credit organizations will direct over 3.8 trillion soums to financial support of small businesses and private entrepreneurs.

At the same time, the special attention will be paid to issuing loans to formation of starting capital, development of family business and handicraft, modernization of enterprises, producing consumer goods, development of service sector, financing projects of educational establishments’ graduates, etc.

As earlier reported, 2011 was announced as the Year of the Small Businesses and Private Entrepreneurship in Uzbekistan on imitative of the Uzbek President. The programme “On the Year of the Small Businesses and Private Entrepreneurship” was adopted within it.

In line with the State Programme, several priority tasks on further developing small businesses and private entrepreneurs, as well as further strengthening the role of commercial banks in financial support of the businesses were assigned to the banking system.

It is also planned to improve legislative base for further development of small business in the country. In particular, it was planned to introduce changes and amendments to legislation to strengthen rights and interests of businesses.

According to the programme, such laws as “On guaranteeing freedom of entrepreneurship activity” in new edition, “On family entrepreneurship”, “On protection of private property and guarantying rights of proprietors”, “On permission procedures in entrepreneurship activity”.

Laws “On microfinancing”, “On credit unions”, “Microcredit organizations” and other legislative acts will be amended to improve microfinancing sector based on international approaches and standards.

The seminar also discussed issues on developing non-banking credit organizations’ system, improving legislation, regulating their activity and ensuring their stable functioning.

At the same time, it was noted that measures are adopted to expand network of credit organizations in Uzbekistan. Currently, there are 119 credit unions, 35 microcredit organizations and 58 pawnshops in the country.