European Bank for Reconstruction and Development to allocate up to $25 million to support business in Uzbekistan
Recipients may include firms owned by entrepreneurs under 35 years old
The European Bank for Reconstruction and Development (EBRD) is providing Davr Bank in Uzbekistan with a credit line of up to $25 million as part of its programme to support youth entrepreneurship in Central Asia.
The funds are intended for concessional financing of micro, small, and medium-sized businesses owned or managed by entrepreneurs under 35 years old. The credit will be issued in US dollars or as synthetic financing linked to the Uzbek sum.
At least 30% of the funds are reserved for enterprises led by women. The project also aims to expand access to capital outside Tashkent and in rural areas.
Citizens under 30 years old make up over 26% of Uzbekistan’s population, and developing their business activity is among the key priorities for regulators. Overall, the EBRD’s total investment portfolio in Uzbekistan’s economy has reached nearly $7.3 billion across 219 projects.
