The European Bank for Reconstruction and Development (EBRD) is advancing support for micro, small, and medium-sized enterprises (MSMEs) in Uzbekistan by providing a $25mn (€21.9mn) loan to SQB, the country’s second-largest financial institution. This funding aims to empower young entrepreneurs under the age of 35 and help them expand their businesses.
The loan forms part of the EBRD’s Youth in Business programme in Central Asia, which focuses on increasing financial access for young business leaders. SQB will channel these funds to develop tailored financial products designed specifically for young MSME owners and leaders.
Young entrepreneurs hold particular significance in Uzbekistan, where people under 35 make up nearly 27% of the population—the largest youth demographic in Central Asia. To ensure comprehensive support, eligible sub-borrowers will also receive training, advisory services, and networking opportunities through the Bank’s Advice for Small Businesses programme.
A recent EBRD market assessment in Central Asia highlighted the challenges faced by young entrepreneurs: despite their strong entrepreneurial mindset, only about 10% have access to essential training and professional expertise. This initiative seeks to bridge that gap and unlock the economic potential of youth-led enterprises.
Since beginning operations in Uzbekistan, the EBRD has invested nearly €5.6bn across 174 projects, primarily targeting private entrepreneurship. Uzbekistan has been the region’s top recipient of EBRD funding for the past five years, underscoring the Bank’s commitment to supporting economic growth and innovation in the country.
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