Presidential Decree of the Republic of Uzbekistan on Additional Measures to Support Employment of Higher Education Graduates

In order to ensure youth employment, strengthen the integration of higher education graduates into the labor market, and improve the process of training personnel with the involvement of the private sector and commercial banks, the “Step into the Future” program has been developed.

According to the program, the National Bank of Uzbekistan (O‘zmilliybank) will receive funding from the Reconstruction and Development Fund as follows:

— The equivalent of 80 million USD for a period of 10 years, including a 3-year grace period, at an interest rate equal to the Central Bank’s base rate;

— The equivalent of 20 million USD to finance vocational training and practical internship expenses for students.

The Ministry of Higher Education, Science and Innovation, in cooperation with O‘zmilliybank, shall:

— Approve within one month the methodological guidelines and the procedure for organizing the activities of Centers involved in the implementation of the Program.