Educational loans for young people in Uzbekistan who are studying IT

Every day, more opportunities are being created for young people interested in the IT field. For instance, programs have been launched to compensate for international certifications and to provide loans for purchasing equipment.

Another opportunity for young people has become educational loans. The relevant Resolution was signed by the Cabinet of Ministers of Uzbekistan.

Among the main requirements for young people is that they must study in the IT field through advanced training courses at non-governmental organizations that are residents of IT Park.

Educational loans are issued up to 65 times the base calculation unit (BCU), including a one-year grace period, for a term of four years.

How to get a loan

To obtain an educational loan, you need to provide the following documents to commercial banks, as published on the official website of the Ministry of Economy and Finance:

— an application for an educational loan

— a contract (agreement, public offer) properly executed between the borrower and non-governmental educational organizations that are residents of IT Park, along with an attached invoice/invoice (if available)

— a document ensuring the repayment of the educational loan in accordance with the credit policy and internal procedures of the commercial bank. Note that in this case, no collateral or guarantor is required for the educational loan provided to young people who have children from families included in the "Unified Registry of Social Protection"

— a certificate of inclusion in the "Unified Registry of Social Protection" (for young people with children from families included in the "Unified Registry of Social Protection")

— other documents specified in the bank's internal documents (policy), including information and documents related to the co-borrower.

Along with submitting the above-mentioned documents to the commercial bank, the borrower must personally present a document confirming their identity. The commercial bank has the right to obtain necessary extracts and copies of the submitted documents.

Source: it-park.uz