$100 Million ADB Loan to Promote Small and Medium Enterprises’ Development in Uzbekistan
The Asian Development Bank (ADB) today approved a $100 million policy-based loan to help Uzbekistan undertake reforms to improve the enabling environment for small and medium-sized enterprises (SMEs) in the country. The loan will finance the first subprogram of ADB’s Small and Medium-Sized Enterprises Development Program and includes the equivalent of $20 million denominated in local currency, the Uzbekistan sum.


“Uzbekistan continues to accelerate its transition towards a market-based economy and SMEs have made a substantial contribution toward economic growth and jobs in the country,” said ADB Director General for Central and West Asia Yevgeniy Zhukov. “This program builds on ADB’s long-standing support for SMEs in Uzbekistan and will help to improve the enabling environment for these businesses, allowing them to become drivers of private sector-led diversified growth.”


SMEs in Uzbekistan account for over half of the gross domestic product and provide about two-thirds of formal and informal jobs. Nearly half a million SMEs are operational although many were affected by the coronavirus disease (COVID-19) pandemic, particularly in the tourism and hospitality industries.