Tashkent, Uzbekistan (UzDaily.com) -- The European Bank for Reconstruction and Development (EBRD) is improving access to finance for young entrepreneurs in Uzbekistan by providing funds to privately owned financial institution, Davr Bank.

Davr Bank will join the EBRD’s Youth in Business (YiB) programme, which was launched in 2023. The EBRD’s senior loan of up to US$15 million (€13.8 million), extended to Davr Bank under the YiB programme, will boost youth entrepreneurship and employment in Uzbekistan.

In addition to financial support, eligible small firms, owned or led by young entrepreneurs, will be able to develop business skills through training, advisory services and networking opportunities provided by the EBRD’s Advice for Small Businesses programme.

Uzbekistan is the leading recipient of EBRD funding in Central Asia for the fourth year in a row. To date, the Bank has invested around €4.43 billion in 154 projects across the country, with most of those funds supporting private entrepreneurship.