Uzbekistan introduces new tools for financing youth startups and businesses

In Uzbekistan, the 'From Poverty to Prosperity' program is being implemented, under which over 2,300 loans totaling 35.9 billion soums have been provided to citizens. These funds are intended for the purchase of equipment and machinery, enabling residents to start their own businesses, work for themselves, and develop small-scale production.

According to Central Bank data as of October 1, 2026, a significant portion of the loans was allocated for the purchase of sewing machines—925 units amounting to 13.2 billion soums. Additionally, 419 loans totaling 7.1 billion soums were used to procure equipment sets for food production. Citizens also acquired 496 laptops worth 5.6 billion soums and 272 motor vehicles valued at 5.4 billion soums. An additional 4.5 billion soums was allocated for other types of equipment through 250 processed loans.

Leaders in Support Volume

Among the financial institutions providing support, People's Bank provided the largest volume of loans, issuing 1,600 loans worth 23.6 billion soums. 'Microcreditbank' processed 569 loans for 8.6 billion soums, and 'Agrobank' provided 206 loans for 3.6 billion.

Regional Indicators

In terms of regional performance, Jizzakh region leads with 321 loans received by its residents. It is followed by Tashkent region with 307 loans and Syrdarya region with 262 loans.

The regulator emphasizes that this initiative not only provides financial assistance to the population but also helps realize personal ideas into a sustainable source of income. The main goal of the program is to support small entrepreneurship and increase family incomes. Furthermore, Uzbekistan plans to provide greenhouse farms and private greenhouse owners with preferential loans of up to three billion soums, as well as subsidies, tax benefits, and compensation for part of electricity costs.

The Central Bank of Uzbekistan has made changes to the regulations governing bank accounts of business owners undergoing bankruptcy proceedings. Special accounts will now be created for such entrepreneurs, allowing control over funds during rehabilitation, external management, or company liquidation.

In accordance with the updated norms, all transactions on primary and supplementary accounts are temporarily suspended, and funds are transferred to this new special account. Access to these funds is possible only based on a payment order from the client themselves or the appointed judicial manager.

These regulatory steps are aimed at optimizing banking processes and supporting entrepreneurs facing financial difficulties by providing them with the opportunity to maintain financial control and resume their activities.

The changes also affect ordinary citizens. Now, any citizen can request information about all their bank accounts in any bank, not just the one where the main account is held. Furthermore, when opening an account, it is now possible to use a biometric passport for international travel.

Additionally, it should be noted that the procedure for blocking taxpayers' accounts in Uzbekistan has been adjusted: if an entrepreneur disagrees with the decision of the tax authority, they have the right to file an objection, which the court must review within three days.

The Central Bank of Uzbekistan has expanded the scope of financial experiments by providing the opportunity to participate in testing new financial services under a special experimental legal regime.

Now, non-residents and companies whose activities are under the supervision of other state bodies can join such projects. These changes were officially formalized by an administrative regulation registered by the Ministry of Justice on October 19.

Structure and Conditions of the Experimental Regime

This document details the procedures for introducing and terminating the special legal regime in the field of financial services, as well as establishing all conditions for operating within this regime. The updated concept of the 'regulatory sandbox' includes three independent pilot areas: 'Innovation,' 'Acceleration,' and 'Technological Cooperation,' the details of which will be announced later.

Furthermore, companies planning to implement a new financial product within the experiment now have the opportunity to receive preliminary consultation from the regulator. The regulation also defines the rules for maintaining a register of all participants.

An important requirement is the necessity to indicate in any advertising or informational materials about financial services provided under the 'regulatory sandbox' that these services are in an experimental mode.

Previously, there was information about the development of a new legislative act regarding the capital market in Uzbekistan. This law aims to expand business potential for attracting investments and introduce new types of financial instruments, including Islamic sukuk securities, whose yield is calculated according to the principles of Islamic finance, rather than through standard interest payments.