Country
Uzbekistan

Local project partner
Ministry of Higher Education, Science and Innovations; Xalq Banki; MKBank; Agrobank; International Business Women Association; Youth Union; Competition Promotion and Consumer Protection Comittee; Central Bank

German project partner
Sparkasse Neustadt a.d. Aisch, Sparkasse Fürth

Donor
BMZ

Duration
15.07.2021 - 31.12.2026

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 inequalities, especially 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, strengthening the protection of consumers and the creation of a responsible supply of financial services. The project works with local partners on the supply and demand side as well as at the state level.

Tasks
Measures to improve financial and entrepreneurial education and create transparency. The necessary capacities are to be created at financial institutions to provide low- to middle-income sections of the population with various savings and credit products. Increased sensitivity to consumer protection as well as improved application of consumer protection regulations in the banks are to strengthen the population’s trust in the financial sector.