Mirziyoyev cuts Karakalpakstan business loan rate to 12%

September 19, 2026 at 05:15 PM2 min

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President Shavkat Mirziyoyev announced a reduction in the business loan rate for family entrepreneurship in Karakalpakstan from 17.5% to 12%. The decision was made at a meeting on the region's socio-economic development in Nukus. The responsible bank will open a 300 billion soum credit line at 16%, with the Entrepreneurship Development Company covering 4 percentage points.

Key Facts

The business loan rate for family entrepreneurship in Karakalpakstan will be reduced from 17.5% to 12%.
President Mirziyoyev announced the decision at a meeting in Nukus on the region's socio-economic development.
The responsible bank will open a 300 billion soum credit line at 16%, with the Entrepreneurship Development Company covering 4 percentage points.
2,000 entrepreneurs in Karakalpakstan repaid loans totaling 2 trillion 145 billion soums over three years.
Next year, $100 million will be allocated for 'driver' projects, aiming to provide income for at least 50,000 people.

Loan Rate Reduction

President Shavkat Mirziyoyev announced the rate cut at a meeting on Karakalpakstan's socio-economic development in Nukus. The rate for family entrepreneurship loans will drop from 17.5% to 12%. The responsible bank will open a 300 billion soum credit line at 16%, with the Entrepreneurship Development Company covering 4 percentage points. Mirziyoyev instructed the other eight banks to develop similar products within a month.

Entrepreneurship Track Record

2,000 entrepreneurs in Karakalpakstan repaid loans totaling 2 trillion 145 billion soums over three years. These borrowers became reliable bank clients, according to Mirziyoyev. Using the 'client cultivation' model, at least 30,000–40,000 more people could be provided with jobs and income.

Regional Development Funding

Next year, $100 million will be allocated for 'driver' projects based on the experience of Uychi and Zarbdor districts. The goal is to provide income for at least 50,000 people. Over two years, 370 billion soums were allocated for business infrastructure development, launching 2,200 trade and service facilities and creating about 10,000 jobs. District heads were instructed to develop two additional projects each this year, providing income for 10,000 people with 100 billion soums allocated.