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EBRD offers to provide grants for small and medium-sized textile enterprises

The bank will cover up to 75% of expenses for the implementation of international standards and management.

The European Bank for Reconstruction and Development will provide grants to small and medium-sized textile enterprises in Uzbekistan, the press service of Uztekstilprom writes.

EBRD representatives held talks with Textile Standard Services on 24 May. This is a subsidiary structure of the association, which is engaged in the implementation of international industrial standards at local enterprises.

The parties agreed to work together to support small and medium enterprises in the textile industry. We are talking about enterprises with 250 or fewer employees.

The EBRD, together with the company, will help them implement international standards, quality management systems, automation and marketing. The Bank will cover up to 75% of their expenses on a grant basis.

Textile Standard Services remains an accredited partner of the EBRD, the report says. The Bank will continue to invest in projects that facilitate the transition to an open market economy and the development of entrepreneurship.

Prior to this, Shavkat Mirziyoyev approved new benefits for the industry. In particular, exporters of dyed fabrics and finished textile and knitwear, which receive more than 80% of their revenue from abroad, will pay social tax at a rate of 1% until 2025.


Source: www.spot.uz