Uzbekistan to attract ADB loan for US$100m to develop small businesses


Uzbekistan plans to attract a loan of the Asian Development Bank (ADB) for US$100 million to development of small and private businesses.

The resources will be attracted within the ADB-project “Second Small Business and Entrepreneurship Development”.

According to the ADB website, the bank plans to consider application of Uzbekistan for a loan in July 2016.

The proposed project will be directed to development of small businesses in the regions of Uzbekistan. Within the project, special attention will be paid to financing business initiatives of the businesswomen.

The project will help small and private businesses to receive access to financial resources. The ADB said that small businesses received loans for 9.1 trillion soums (US$3.4 billion), which makes up 6.3% of Uzbekistan’s GDP. Of which, some 1.5 trillion soums were microloans.

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