Uzbekistan planned to open up its economy through economic restructuring that would involve privatization and/or closure of state enterprises. These policies and programs, and the ongoing economic restructuring during that time, were expected to increase unemployment, which in turn, could adversely affect vulnerable sections of society. Anticipating this, the government requested support from aid agencies to develop alternate channels of funding for small and medium-sized enterprises and micro and small enterprises to boost employment and help meet the investment and consumption requirements of vulnerable groups.
This report validates the completion report's assessment of the project which aims to develop an effective legal, regulatory, and institutional frameworks for savings and credit unions, establish a financially sustainable networks of unions, and improve financial intermediation of commercial banks and provision of credit access in Uzbekistan. IED overall assessment: Less than successful