Country
Uzbekistan

Local project partner
Ministry of Higher Education, Science and Innovations of the Republic of Uzbekistan
JSC Agrobank
JSC Xalq Banki
JSC Microcreditbank
International Business Women Association
Youth Union of Uzbekistan
Competition Promotion and Consumer Protection Comittee of Uzbekistan

German project partner
Sparkasse Fürth
Sparkasse im Landkreis Neustadt a.d. Aisch - Bad Windsheim

Donor
BMZ

Duration
15.07.2021 - 31.10.2026

Uzbekistan has a population of about 34 million, of which almost 60% are under 30 years old. One of the country’s biggest challenges is a lack of employment opportunities and a very unequal standard of living between rural and urban areas. The Uzbek government has therefore recently taken numerous measures for a transformation from a state-driven to a private sector economy. Especially in rural areas, access to suitable financial services remains difficult for large parts of the population. Another major problem is the lack of trust in banks.

The aim of the project is to reduce poverty and inequality, particularly in rural regions, through the sustainable transformation of the financial sector and sustainable rural development. This is to be achieved by strengthening financial and entrepreneurial education, expanding consumer protection and creating a responsible range of financial services. 

Tasks
To achieve these objectives, the following measures, in particular, will be implemented:

• Development and support of financial and entrepreneurial education programs in rural regions
• Development and implementation of practical tools to improve financial institutions’ access to credit and risk management
• Providing advice to financial institutions and relevant authorities on consumer protection, competition, and the regulation of digital financial markets
• Conducting training programs for community leaders and young people transitioning into the labor market
• Implementing nationwide awareness and education campaigns on financial literacy and consumer rights