he Asian Development Bank (ADB) has announced the approval of a USD 300 million policy-based loan to support Uzbekistan’s ongoing efforts to expand access to finance for underserved micro, small, and medium-sized enterprises (MSMEs). The initiative aims to promote financial inclusion, strengthen economic resilience, and empower entrepreneurs across the country.
The loan is part of Subprogram 2 under ADB’s Inclusive Finance Sector Development Program, which builds upon earlier reforms introduced through Subprogram 1. The first phase focused on creating a solid legal and institutional foundation for inclusive finance in Uzbekistan, while the new program seeks to deepen these reforms and enhance the effectiveness of financial inclusion initiatives.
According to ADB, the program supports several key measures, including increasing the maximum microloan size, revising microfinance regulations, joining the Women Entrepreneurs Finance Code, and developing a regulatory framework for Islamic microfinance. These reforms are designed to make financial services more accessible, especially for self-employed individuals, women entrepreneurs, and small business owners in underserved communities.
Kanokpan Lao-Araya, ADB Country Director for Uzbekistan, emphasized the importance of the program, stating:
“This program will help unlock access to finance for the self-employed and micro-entrepreneurs, promote gender equality, and strengthen consumer protection in the financial sector.”
Through this initiative, ADB reaffirms its commitment to supporting Uzbekistan’s efforts to build a more inclusive, diversified, and sustainable financial system. The program also aligns with ADB’s broader goal of fostering equitable growth and expanding economic opportunities across Central Asia.