Business lending in Uzbekistan rises 20% in Q1 2026

Tashkent, Uzbekistan (UzDaily.com) — Lending to micro, small and medium-sized enterprises (MSMEs) in Uzbekistan increased by 20.2% in January–March 2026 compared with the same period last year, reaching 35.1 trillion soums, according to data from the Central Bank.

Overall, 89.9 trillion soums in loans were directed into the economy from all sources during the first quarter of the year, up 9.1% compared with the same period in 2025.

Under state entrepreneurship support programs, the total volume of loans issued amounted to 7,992 billion soums, increasing by 11% year-on-year. A significant share of financing was allocated under the “Mahalla” program, which provided 4,260 billion soums, 36% more than a year earlier.

The continuous small business support program issued 1,331 billion soums in loans, up 12% compared with the same period last year. These funds were directed toward the development and expansion of existing enterprises.

Under the family entrepreneurship program, 1,253 billion soums were disbursed, while the “First Step in Business” initiative, aimed at supporting start-up entrepreneurs, provided 1,149 billion soums.

The reported figures reflect expanding access of entrepreneurs to financial resources and the growing scale of state support for business, including through mahalla-based mechanisms and programs targeting family and small business development.