President Mirziyoyev Launches $1 Billion Initiative to Boost Employment and Incomes in Mahallas
Tashkent, The Gulf Observer: President Shavkat Mirziyoyev has been briefed on robust measures aimed at boosting employment and increasing incomes in mahallas (local communities) through active participation of banks, following a directive issued during a videoconference on December 16, 2024.
The government has set an ambitious goal to employ 5.2 million people in 2025, with over 3 million of them securing jobs through bank-assisted initiatives. To achieve this, hokims (administrative leaders) from 208 districts and cities, along with bank heads, have signed cooperation agreements that define the rights and responsibilities of all parties involved.
$1 Billion Allocated for Mahalla Employment Program
As part of the “Mahalla Loyihasi” (Mahalla Project) program, $1 billion in credit resources has been allocated across banks and regions to support employment initiatives. Each mahalla has been assigned specific target indicators, and district bank heads have been tasked with meeting monthly performance benchmarks related to project implementation, loan disbursement, and job creation.
The Central Bank has announced that by February 1, 2025, special departments dedicated to mahalla-focused banking will be established in district bank branches, staffed by “mahalla bankers.” These bankers, supported by assistant agents within each mahalla, will collaborate to provide financial services and guide residents in launching business ventures.
Integration of Digital Platforms for Monitoring
To ensure effective oversight, digital platforms such as “online-mahalla.uz,” “bank-kredit.uz,” and “soliq.uz” will be integrated. These systems will enable real-time monitoring of task execution and allow for daily performance analysis of responsible officials. Measures will be implemented against underperforming personnel to maintain accountability.
President Mirziyoyev emphasized that 2025 must be a pivotal year for addressing unemployment and poverty reduction. He called for intensified cooperation among hokimiyats, banks, and economic structures at all levels to achieve these goals.
This initiative reflects Uzbekistan’s commitment to fostering economic growth and improving living standards through community-centric and innovative financial solutions.
