EBRD, EU launch new business program in Uzbekistan

Uzbekistan Materials 1 March 2018 14:18 (UTC +04:00)

Baku, Azerbaijan, March 1

By Fikret Dolukhanov – Trend:

European Bank for Reconstruction and Development (EBRD) and European Union (EU) launched the Regional Small Business Programme (RSBP) for small and medium-sized private enterprises (MSMEs) in Uzbekistan, Uzbek media reported on March 1.

The program is designed to transfer know-how in the field of micro, small and medium-sized enterprise finance. The EU-funded project will be managed by the EBRD.

The RSPB will establish a knowledge-sharing platform accessible to partners in MSME finance in Uzbekistan.

It will also help local financial intermediaries to get systematic digital access to the EBRD’s experience in this field.

It is envisaged that eventually this digital platform will be transformed into an online learning system that is more widely available to financial institutions in Central Asia. Financial organizations of Uzbekistan will receive regular training on a variety of topics relevant to financial institutions providing their services to MSMEs.

MSMEs play especially important role in Uzbekistan, because their total contribution to the state GDP is about 60 percent.

The program will be realized by the German consulting company IPC (Internationale Projekt Consult GmbH). Uzbekistan’s Banks Association will render assistance to the launch of program in Uzbekistan.