EBRD supports youth entrepreneurship in Uzbekistan

• EBRD to provide a loan of up to US$ 25 million (€22 million) to Davr Bank
• Funds will support young entrepreneurs across Uzbekistan
• At least 30 per cent of funds will be provided to women-led businesses

More young entrepreneurs in Uzbekistan will benefit from Davr Bank expanding its lending under the European Bank for Reconstruction and Development (EBRD) Youth in Business (YiB) programme for Central Asia, targeting micro, small and medium-sized enterprises (MSMEs) that are led or owned by individuals under the age of 35.

A senior EBRD loan of up to US$ 25 million (€22 million) under the YiB will be disbursed either in synthetic Uzbek som or in US dollars. At least one third of these funds will be channelled towards women-led MSMEs. Davr Bank will also target MSMEs based in rural areas of Uzbekistan.

Eligible young clients of Davr Bank will benefit from training, advisory support and other non-financial services provided under the EBRD’s Advice for Small Businesses programme.

According to government data, more than 26 per cent of Uzbekistan’s population is aged 30 or under. This young generation represents a dynamic, technically and digitally skilled workforce that will need new job opportunities in the coming years. Creating these opportunities is one of the EBRD’s priorities.

The project will also support greater outreach to youth-led MSMEs outside the capital and help Davr Bank further develop its systems and products for serving young entrepreneurs.

The EBRD has invested almost US$ 7.3 billion (€6.5 billion) in Uzbekistan to date through 219 projects, with most of those funds going to support private entrepreneurship.