Uzbekistan : Inclusive Finance System Development

Sovereign Project | 57245-002

The technical assistance (TA) will help prepare the proposed sector development program to support sustainable and inclusive growth through access to finance for unbanked and underbanked low-income households and micro entrepreneurs. The program includes a proposed policy-based loan of $400 million to be delivered in a programmatic approach in two subprograms, and a financial intermediation loan of $100 million targeted to microenterprises and self-employed people via eligible participating financial institutions (PFIs), specifically state banks. The proposed program will be aligned to the following impact: increased financial inclusion of micro and small enterprises (MSEs) and entrepreneurial households in Uzbekistan. The outcome will be: expanded access to finance for unbanked and underbanked microenterprises, especially microenterprises owned by women and youth, to support sustainable and inclusive growth.

Project Details

Project Name
Inclusive Finance System Development
Project Number
57245-002
Country / Economy
  • Uzbekistan
Project Status
Active
Project Type / Modality of Assistance
  • Technical Assistance
Source of Funding / Amount
TA 10292-UZB: Inclusive Finance System Development
Source Amount
Technical Assistance Special Fund US$ 700,000.00
Financial Sector Development Partnership Special Fund US$ 300,000.00
Operational Priorities
  • OP3: Tackling climate change, building climate and disaster resilience, and enhancing environmental sustainability
  • OP6: Strengthening governance and institutional capacity
Sector / Subsector
  • Finance / Inclusive finance

Gender
Effective gender mainstreaming
Description
The technical assistance (TA) will help prepare the proposed sector development program to support sustainable and inclusive growth through access to finance for unbanked and underbanked low-income households and micro entrepreneurs. The program includes a proposed policy-based loan of $400 million to be delivered in a programmatic approach in two subprograms, and a financial intermediation loan of $100 million targeted to microenterprises and self-employed people via eligible participating financial institutions (PFIs), specifically state banks. The proposed program will be aligned to the following impact: increased financial inclusion of micro and small enterprises (MSEs) and entrepreneurial households in Uzbekistan. The outcome will be: expanded access to finance for unbanked and underbanked microenterprises, especially microenterprises owned by women and youth, to support sustainable and inclusive growth.
Project Rationale and Linkage to Country/Regional Strategy

The TA will seek inclusive growth by promoting financial access for microenterprises and underserved and low-income population segments, including unserved women and youth, in line with the country partnership strategy, 2019-2023 of the Asian Development Bank (ADB) for Uzbekistan. It will help the government prepare and implement inclusive finance policies that integrate green, gender, and digital considerations; develop a market-oriented microfinance system; and structure and professionalize microfinance organizations (MFOs) in line with the Uzbekistan Development Strategy 2030.

Strengthening the finance sector to advance financial inclusion is a key component of ADB's Strategy 2030 and aligns with Uzbekistan's National Financial Inclusion Strategy and the recent government decisions on building a finance system that includes micro, small, and medium-sized enterprises (MSMEs).

Impact

Project Outcome

Description of Outcome
Progress Toward Outcome

Implementation Progress

Description of Project Outputs
Status of Implementation Progress (Outputs, Activities, and Issues)
Geographical Location
Nation-wide

Summary of Environmental and Social Aspects

Environmental Aspects
Involuntary Resettlement
Indigenous Peoples

Stakeholder Communication, Participation, and Consultation

During Project Design
During Project Implementation

Contact

Responsible ADB Officer
Kuchkarov, Adhamjon
Responsible ADB Department
Sectors Group
Responsible ADB Division
Finance Sector Office (SG-FIN)
Executing Agencies
Ministry of Economy and Finance

Timetable

Concept Clearance
-
Fact Finding
-
MRM
-
Approval
06 Mar 2024
Last Review Mission
-
Last PDS Update
22 Mar 2024

Funding

TA 10292-UZB

Milestones
Approval Signing Date Effectivity Date Closing
Original Revised Actual
06 Mar 2024 10 May 2024 10 May 2024 28 Feb 2025 - -
Financing Plan/TA Utilization
ADB Cofinancing Counterpart Total
Gov Beneficiaries Project Sponsor Others
1,000,000.00 0.00 0.00 0.00 0.00 0.00 1,000,000.00
Cumulative Disbursements
Date Amount
17 May 2024 0.00

Project Data Sheets (PDS) contain summary information on the project or program. Because the PDS is a work in progress, some information may not be included in its initial version but will be added as it becomes available. Information about proposed projects is tentative and indicative.

The Access to Information Policy (AIP) recognizes that transparency and accountability are essential to development effectiveness. It establishes the disclosure requirements for documents and information ADB produces or requires to be produced.

The Accountability Mechanism provides a forum where people adversely affected by ADB-assisted projects can voice and seek solutions to their problems and report alleged noncompliance of ADB's operational policies and procedures.

In preparing any country program or strategy, financing any project, or by making any designation of, or reference to, a particular territory or geographic area in this document, the Asian Development Bank does not intend to make any judgments as to the legal or other status of any territory or area.

Title Document Type Document Date
Inclusive Finance System Development: Technical Assistance Report Technical Assistance Reports Mar 2024

Safeguard Documents See also: Safeguards
Safeguard documents provided at the time of project/facility approval may also be found in the list of linked documents provided with the Report and Recommendation of the President.

None currently available.


Evaluation Documents See also: Independent Evaluation

None currently available.


Related Publications

None currently available.


The Access to Information Policy (AIP) establishes the disclosure requirements for documents and information ADB produces or requires to be produced in its operations to facilitate stakeholder participation in ADB's decision-making. For more information, refer to the Safeguard Policy Statement, Operations Manual F1, and Operations Manual L3.

Requests for information may also be directed to the InfoUnit.

Tenders

Tender Title Type Status Posting Date Deadline
International - MFI Financial and Regulatory Expert Individual - Consulting Active
International Program Coordinator Individual - Consulting Closed
International Financial Advisory Services -- Apex Transformation Firm - Consulting Closed

Contracts Awarded

No contracts awarded for this project were found

Procurement Plan

None currently available.