128 micro loans provided to women entrepreneurs

New Europe Magazine (Belgium)
March 14-20, 2010

The Women`s Council Public Association and the National Association of Microfinance Organizations and Credit Unions (NAMOCU) recently organized a ceremony to award the winners of the competition “Social Support of Family Entrepreneurship”. The main goals of the competition are to assist the development of female entrepreneurship, provide information and consultancy services to Uzbek female entrepreneurs, helping foster a network of women running their own businesses in the region, Uzreport.com reported. At the event, awards were handed over to winners.

Gulnara Karimova, the Chairperson of the Women`s Council`s Organising Committee, presented awards to 128 women, the laureates of the competition. An initiative set up by Karimova and funded by the Women`s Council and the NAMOCU, in conjunction with Mehr nuri (Ray of mercy) Public Foundation and the Social Initiative Support Fund (SISF), made available 518 grants and microcredits worth more than 1.8 billion UZS.

The categories in the micro loan programme for women included agriculture, food manufacture, textile and clothing production, craft development, personal and social services, provision of services in retail trade, and catering. The micro credit project will boost business leadership in the region and help develop skills in independent business management.

Heads of major financial organizations organised professional classes for competition winners, giving them an opportunity to pose questions related business management, skills in credit-related activities, and writing wining business proposals.