Uzbekistan launches foreign currency savings program for orphans

Over 8,000 orphans and children without parental care in Uzbekistan have received personalized deposit accounts funded by the state. Fergana News reports that the initiative was launched as part of the New Year’s "President’s Tree" campaign and aims to provide long-term social support, according to the National Agency for Social Protection. The savings accounts have […]

Asia-Plus

Over 8,000 orphans and children without parental care in Uzbekistan have received personalized deposit accounts funded by the state. Fergana News reports that the initiative was launched as part of the New Year’s "President’s Tree" campaign and aims to provide long-term social support, according to the National Agency for Social Protection.

The savings accounts have been opened for children aged from birth to 17 years old. Each account was credited with $500 USD from the state budget. The funds will accumulate with annual interest capitalization and can only be accessed once the child reaches the age of 18.

In addition, children over the age of 9 and their legal guardians received special social cards. These cards grant access to discounted public transportation, payment for various services, and serve as official identification confirming their social support status. Transactions can be tracked through the Baraka mobile app.

The program benefits several categories of children:

·         orphans living in local communities (mahallas);

·         residents of state-run and family-style orphanages, as well as SOS Children’s Villages;

·         children of fallen border service officers.

Special conditions apply to patients of the pediatric oncology hospital affiliated with the Taskin hospice. In these cases, the funds can be accessed before the age of 18 — legal guardians may request that the money be transferred to a bank card at any time when needed.

Authorities emphasize that the program aims not only to provide financial support, but also to foster long-term financial security and social protection for children facing difficult life circumstances.

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