In recent years, the banking system’s activity at the local level has yielded tangible results. In particular, in Uychi district of Namangan region, thanks to the support of 3.2 thousand active clients by banks, 9 thousand people were employed, and the number of low-income families decreased by 6 thousand.

In Saykhunabad district of Syrdarya region, projects were implemented in 3.2 thousand households, as a result of which 12 thousand people learned to earn money on household plots.

In Zarbdar district of Jizzakh region, 13.5 thousand jobs were created, and in Gijduvan district of Bukhara region – 28 thousand. Thanks to this, more than 10 thousand residents emerged from poverty.

In total, as part of implementing these initiatives in four districts – Uychi, Saykhunabad, Zarbdar, and Gijduvan – since the beginning of the year, 3.3 million people have received a permanent income. The total number of officially employed people reached 10.5 million for the first time.

In addition, in districts such as Khodjeyli, Asaka, Vabkent, Bulungur, Yangiyer, Kushtepa, Shavat, and others, the unemployment rate has dropped to less than 5 percent.

The President noted that the Central Bank and regional banks should expand this positive experience and become a real support for the population.

“2025 will be a decisive year in ensuring employment and reducing poverty”, Shavkat Mirziyoyev emphasized.

New opportunities and plans for the future were discussed at the meeting.

Over the past six years, 750 thousand citizens have repaid their loans on time and launched profitable businesses under the family entrepreneurship program. Of these, 58 thousand opened new enterprises. Now, banks must support such clients and help them move to the level of small and medium businesses.

Under the Small Business Support program, an unconditional loan of 300 million UZS will be provided. This will create jobs for 1.5 million people in the coming years.

Previously, banks received funds for family entrepreneurship programs exclusively from the state. People’s Bank took the initiative and began issuing loans of up to 50 million UZS without requiring unnecessary documents and collateral under the Financial Accessibility program with the support of the Asian Development Bank.

Following this example, nine state-owned banks plan to allocate $1 billion in loans next year, providing income for 250 thousand people.

Thanks to the cooperatives created with the participation of active entrepreneurs in 27 districts, good results have been achieved. Next year, cooperatives for fish farming, rabbit breeding, livestock farming, and beekeeping will be organized in 30 districts. 500 billion UZS will be allocated for this.

Startup projects that attract investment and create jobs will receive support. State banks will create venture companies and allocate $50 million to support startups in mahallas. Each bank is recommended to find a private partner to create business accelerators.

At the meeting, special attention was paid to reducing unemployment in lagging districts. For these purposes, it is planned to attract experienced entrepreneurs from other regions, providing them with preferential loans and additional funds for infrastructure. This will provide income to 1.3 million people.

If the state creates the necessary infrastructure, entrepreneurs are ready to implement 3.5 thousand projects worth 31 trillion UZS and create 200 thousand new jobs. Next year, 1 trillion UZS will be allocated for the infrastructure of these projects.

The analysis also showed that unprofitable crops are grown on 85 thousand hectares of land, which reduces their efficiency. These lands will be combined into large contours and subleased to leading entrepreneurs. The tenant will be paid rent and a share of the sale of products.

It was noted that 60 leading cities and districts have the potential to eliminate unemployment and poverty completely. To do this, it is necessary to employ 2 million people and lift 417 thousand families out of poverty.

Achieving this goal requires that the banking system be financially stable. It was noted that it is essential not to depend only on public funds, but to attract $6 billion from external sources. The task has also been set to increase the volume of population deposits to $11 billion next year.

This year, microfinance and factoring services were provided at 5.5 trillion UZS. Now, state banks can open their own microfinance and factoring companies, attracting foreign investors. 

Banks’ problems were also discussed at the meeting, and solutions were proposed. For example, banks have 3,000 real estate properties on their balance sheets, the sale of which would provide additional resources and create 150,000 jobs.

Banks will be allowed to sell these properties directly at market value. In addition, it is proposed to change the legislation to simplify the foreclosure process on collateral and speed up its sale.

The Head of state emphasized the need to strengthen financial discipline and personal responsibility at all financial and banking system levels.

At the meeting, regional heads and bank managers announced plans for 2025 to provide income for more than 5 million people and lift 1.5 million citizens out of poverty.