|
Uzbekistan, Rep. of
|
LOAN: UZB 33196-01
|
Small and Microfinance Development Project
|
|
Location
To be determined
|
Sector
Finance /Microfinance
|
Initial Listing
28 June 1999
|
Most Recent Update
16 February 2007
|
Executing Agency(ies)
Ministry of Finance
|
- Missions
-
| TA Fact-Finding |
Loan Fact-Finding |
Pre-Appraisal |
Appraisal |
| 20-28 Jun 1999 |
16-30 Apr 2002 |
26 Jul-13 Aug 2002 |
26 Sep-4 Oct 2002 |
|
|
Loan Approval Date
9 December 2002
|
Estimated Completion Date
June 2011
|
- Cost and Financing Plan (in US$ million)
-
| Source |
Foreign Cost |
Local Cost |
Total |
| Bank |
14.80 |
5.20 |
20.00 |
| Cofinancing |
0.00 |
0.00 |
0.00 |
| Borrower |
0.00 |
2.46 |
2.46 |
| Beneficiaries |
0.00 |
19.98 |
19.98 |
| Others |
0.00 |
7.55 |
7.55 |
| Project/Program Cost |
14.80 |
35.20 |
50.00 |
| |
OCR |
ADF |
Total |
| Loan Amount |
20.00 |
0.00 |
20.00 |
- Description
-
The proposed project promotes the development of prudentially supervised and efficiently regulated savings and credit unions (SCUs). This allows the development of nonbank financial institutions for the first time in UZB to deliver microfinance to microenterprises. Simultaneously, the Project seeks to enhance the outreach of the banking system in supporting the small and micro-enterprise sectors.
|
|
-
-
|
-
-
|
- Thematic Classification
-
|
|
- Poverty Classification
- Poverty Intervention
|
- Rationale
-
An effective and well-funded rural financial system, which mobilizes savings and provides poor with financial support to set up opportunities for incoming generation, are critical to support Uzbekistan's transition and reduce proverty. ADB, along with other MDBs, has been looking at developing a more holistic approach to improve the access outreach and delivery of small and microfinance services to the population and especially the poor. This encompasses the simultaneous pursuit of alternative microfinance delivery mechanisms. These include the (i) creation of new institutions with adequate capacities to improve rural and microfinancial intermediation; and (ii) development of some banks that have better outreach to intermediate larger flows of small loans.
- Objectives and Scope
-
The overall goal of the small and microfinance development facility (SMDF) is to create a viable and sustainable institutional framework and mechanism for effective delivery of financial services particularly to the poor, low-income households and small and micro enterprises. To support the large small and microfinance (SMF) requirements of the country, the SMDF advocates the development of a broad and sustainable delivery mechanism for the SMF. The Project has four major elements: (i) development of an enabling policy, legal and regulatory cum supervisory framework for savings and credit unions (SCUs); (ii) promotion of the establishment of an institutionally and financially sustainable network of a minimum of 20 SCUs in accordance with the Law on Credit Unions supervised and regulated prudentially by the Central Bank of Uzbekistan (CBU); (iii) development of institutional capacities of the designated commercial banks to effectively mobilize deposits from and intermediate to households, and micro and small enterprises; and (iv) institutional capacity building both at the banks and SCUs for SMF delivery capacities. These four elements reinforce each other and are designed to develop an effective and well-funded financial system which mobilizes savings and provides poor with financial support to set up opportunities for income generation. The Project is critical to support Uzbekistan's transition and poverty reduction efforts.
- Policy Dialogue
-
- Environment Category:
C
- Environment Impact and Mitigation
-
- Social Aspects and Remedies
-
- Benefits and Beneficiaries
-
The rural population, especially the poor, will be the targeted beneficiaries as it will improve their access and availability of financial services.
- Public Consultation
- Arranged by
- Date for Consultation :
- Groups Consulted :
- Beneficiary Participation in Formulation
-
- Beneficiary Participation in Implementation
-
- Consulting Services
-
- Procurement
-
- Contacts
- Bank
|
R. Narasimham
|
|
Senior Project Management Specialist
|
|
CWGF
|
|
Tel. No.:
|
(632) 632-6703
|
|
E-mail:
|
rnarasimham@adb.org
|
- Executing Agency
- Ministry of Finance
|
Contact Person
|
:
|
Mr. Shukhrat Y. Abdullaev, Deputy Minister
|
|
Tel. No.
|
:
|
(998-71) 139-4568
|
|
Fax. No.
|
:
|
(998-71) 139-1020
|
|
E-mail
|
:
|
|
|
Contact Person
|
:
|
|
|
Tel. No.
|
:
|
|
|
Fax. No.
|
:
|
|
|
E-mail
|
:
|
|
- Remarks
-
|
|
|
Projects 
Top of page