A credit line of 300 billion soums at 16% per annum has been opened for trusted clients of the bank assigned to the region, with interest subsidies reducing the effective rate to 12%.
The Entrepreneurship Development Company will subsidize up to 4% of interest payments. The interest rate on family entrepreneurship program loans for Karakalpakstan is also being cut from 17.5% to 12%. Eight other banks operating in the region must roll out similar offers within a month.
In 2027, $100 million is planned for key driver projects to generate income for at least 50,000 local residents. District administrations have been allocated an additional 100 billion soums to spur economic growth and employment.
