A seminar on “Enabling sustainable MSME finance development in Uzbekistan” was held at the Central Bank in cooperation with the International Finance Corporation.
At the seminar, the European Bank for Reconstruction and Development and the Asian Development Bank, KICB Bank (Kyrgyzstan), Credo Bank (Georgia), representatives of such financial organizations as HBL Microfinance Bank (Pakistan), BT Mic Company (Romania), Small Industry Development Bank (India), Denizbank (Turkey) and credit organizations participated.
During the event, presentations were made on financing of micro and small enterprises, reviews of the region and the market of micro and small enterprises of Uzbekistan, innovations in the field of financing of micro and small enterprises in achieving scale and coverage, assistance in financing enterprises of this direction in Uzbekistan and the development of normative documents on their transformation into banks.
At the event, the participants were introduced the latest trends in financing the sector presented by foreign experts, successful business models that exist in the international experience in this regard, and the experiences of international financial institutions, including the current situation in the micro and small finance sector in Uzbekistan, changes in legislation, the application of global principles of microfinancing in the republic, and in this regard problems hindering the development of the sector were discussed.
Also, at the end of the seminar, opinions were exchanged on the development of a road map for the future development of this direction in order to expand the possibility of financing micro, small and medium enterprises in Uzbekistan.
