Tashkent, Uzbekistan (UzDaily.com) -- The Ministry of Investment and Foreign Trade, together with the German federal government represented by the KfW Development Bank, plans to launch the financial sector program “Financing Micro, Small and Medium Enterprises (MSMEs)” in the second half of 2020.

The main goal of the program is the steady growth of medium and long-term financing of small and medium enterprises of the Republic of Uzbekistan. In addition, the program aims to support the development of competencies of participating financial institutions, strengthen the market integration of enterprises and strengthen value chains.

The financial sector program provides components of a line of credit and technical support to partner financial institutions (PFCs) that have been selected in accordance with the criteria of the program.

Currently, on behalf of KfW, a consultant at the Frankfurt School of Finance & Management is conducting a preliminary study to develop the program and identify potential partner institutions participating in the program.