Photo: kursiv.media
The Asian Development Bank (ADB) has approved a $300 million loan to the government of Uzbekistan, including $100 million on concessional terms. The funds will be used to expand access to financing for underserved micro, small, and medium-sized enterprises (MSMEs), particularly those led by women, according to a statement from the international organization’s press service.
ADB emphasized that the Central Asian republic should continue implementing key reforms aimed at establishing sustainable legal and institutional frameworks for inclusive finance.
Planned measures include increasing the maximum size of microloans, improving microfinance regulations, joining the International Code of Practice for Women’s Financial Inclusion, and creating a legal framework for Islamic microfinance.
The large-scale program introduces new policy elements to strengthen consumer protection and promote gender equality in the financial sector. Key initiatives include updating responsible lending guidelines, regulating emerging financial products such as “buy now, pay later,” and enhancing digital financial oversight. The government’s priority will be to support women who have taken the risk of starting their own businesses.
Representatives of the international financial institution added that between 2021 and 2023, an assessment of Uzbekistan’s National Financial Inclusion Strategy showed positive progress: 60 percent of adults in the country now have bank accounts. This indicates rapid growth in digital financial services, expanded access to banking products, and rising financial literacy.
Kanokpan Lao-Araya, ADB Country Director for Uzbekistan, said the organization supports the country’s transition to a more inclusive, market-oriented financial system.
“The program will open access to finance for self-employed individuals and micro-entrepreneurs, promote gender equality, and strengthen consumer protection in the financial sector,” she noted.
Uzbekistan became a member of the Asian Development Bank in 1995. Over 30 years of cooperation, the financial institution has provided the Central Asian republic with loans, grants, and technical assistance totaling $14.6 billion.
