Mirziyoyev proposes 18% loans for local household appliances

This concerns consumer loans for refrigerators, air conditioners, washing machines, and other appliances manufactured in the country. The proposal was voiced at a meeting with entrepreneurs, investors, and representatives of the electrical engineering industry at the NURA Electric plant in Yukorichirchik district of Tashkent region. "On the one hand, this will expand families' opportunities to purchase modern household appliances, and on the other, it will allow increasing sales of products from local enterprises," the president said.

Responsible officials were given two weeks to prepare calculations and specific proposals on how to provide banks with cheap financial resources for the program. The funding sources, maximum loan amounts and terms, borrower requirements, and launch date have not yet been named. For comparison, Gazeta.uz cites Central Bank data: in August 2026, the weighted average rate on soum loans to individuals was 21.3% per annum, although the outlet notes that this figure includes various types of loans.

The meeting also discussed plans to use local electrical equipment more widely. Currently, investors in public-private partnership energy projects are required to use at least 70% domestic cable products and 25% other components. This requirement is planned to be extended to investment projects receiving tax and other state incentives, and large projects worth over $10 million with concessional financing will be required to use a certain share of local products.

According to figures presented at the meeting, $2 billion in investments have been attracted into the industry over the past ten years, launching 413 new capacities. Production in 2026 reached 50 trillion soums compared to 1.7 trillion in 2016, with exports reaching $1.6 billion.