ADB and Ipak Yuli Bank Partner to Boost Financing for Urban MSMEs in Uzbekistan with $50M Loan

“ADB’s support for MSMEs is a commitment to strengthening the social and financial welfare of communities,” said Suzanne Gaboury, ADB Director General for Private Sector Operations.

The Asian Development Bank (ADB) and Uzbekistan’s Ipak Yuli Bank have announced a significant partnership through a 625 billion Uzbek sum loan (approximately $50 million) aimed at enhancing financing access for urban micro, small, and medium-sized enterprises (MSMEs) in Uzbekistan. This funding is designed to support financial inclusion in the region, with a particular focus on helping businesses outside the capital, Tashkent, which often face limited access to resources.

A majority of the loan proceeds will address regional disparities in financing by allocating 60% of funds to MSMEs outside Tashkent, a move that is expected to stimulate local economies and support urban development in other parts of the country. Additionally, the loan includes earmarked targets to foster inclusivity and sustainability: at least 20% will support women-led or women-owned MSMEs, and 10% is dedicated to green technology investments.

Nearly 500,000 MSMEs operate in Uzbekistan, contributing more than 50% of the national GDP and employing a substantial portion of the population. However, many MSMEs, particularly those led by women, face barriers in securing bank loans due to a lack of access to financial literacy and management training.

“ADB’s support for MSMEs is a commitment to strengthening the social and financial welfare of communities,” said Suzanne Gaboury, ADB Director General for Private Sector Operations. “These businesses are vital to innovation, job creation, and economic resilience, and this initiative ensures they have the resources needed to drive green development and enhance livelihoods.”

Saidabror Saydakhmedov, Chairman of the Management Board of Ipak Yuli Bank, highlighted the bank’s commitment to underserved sectors: “Ipak Yuli Bank has been pivotal in providing financial services to Uzbekistan’s underrepresented regions. This funding will enable us to expand our capacity to support MSMEs, fostering inclusive growth and strengthening local economies.”

Ipak Yuli Bank, founded in 1990, focuses primarily on urban MSME support and ranks as Uzbekistan’s fourth-largest private bank, with an extensive network comprising 17 branches, 49 service centers, and multiple sales channels. The bank’s growth has been supported by ADB’s strategic investments, including an equity stake in the bank, and this latest loan represents a deepening of their collaboration.

This funding aligns with Uzbekistan’s long-term economic goals, focusing on sustainability and inclusivity while creating a stronger support framework for MSMEs—entities that play a critical role in the nation’s economic stability and growth.