IFC and Davr Bank Provide US$40 Million to Support SMEs in Uzbekistan

Tashkent, Uzbekistan (UzDaily.com) — IFC and JSCB Davr Bank have signed a US$40 million loan agreement to expand access to finance for small and medium-sized enterprises (SMEs) across Uzbekistan. Particular attention within the initiative will be given to companies led by women. The project aims to foster inclusive economic growth, expand opportunities for small businesses, and create new jobs.

The financing package includes US$30 million of IFC’s own funds and an additional US$10 million from Invest in Visions GmbH, a company specializing in micro and small enterprise lending. These funds are designed to address the financing gap for small businesses, with a quarter of the total amount allocated to supporting women-led enterprises, which often face additional barriers in accessing financial resources.

“Partnership with IFC will allow us to significantly expand support for small businesses and women entrepreneurs, who are key drivers of innovation and economic resilience in Uzbekistan,” said Abdumajid Samadov, Chairman of the Management Board of JSCB Davr Bank. “By broadening access to finance, we are helping unlock the potential of thousands of enterprises across the country.”

Micro and small enterprises form the backbone of Uzbekistan’s economy, providing a significant share of jobs. However, many face challenges in obtaining loans, particularly women-led businesses, which often lack sufficient collateral and access to formal banking services.

“Supporting micro and small enterprises, especially those led by women, is a priority for IFC in Uzbekistan,” emphasized Alain Nounke, IFC’s Regional Manager for Financial Institutions in Central Asia and Türkiye. “Our investment in Davr Bank is aimed at stimulating inclusive growth, creating jobs, and strengthening the country’s private sector.”

The project is being implemented under IFC’s Base of the Pyramid Envelope, a platform designed to narrow financial inclusion gaps. The platform provides medium- and long-term loans to financial institutions, with a focus on micro and small businesses, informal enterprises, and low-income households that are often excluded from traditional banking services.