Tashkent, Uzbekistan (UzDaily.com) — The European Bank for Reconstruction and Development (EBRD) continues to support the development of the private sector in Uzbekistan by extending a new credit line of up to US$15 million (EUR 13.1 million) to the privately owned Davr Bank.

The funding is aimed at financing micro, small, and medium-sized enterprises (MSMEs), including businesses founded by young entrepreneurs.

The credit line comprises two main components. The first is a term loan of up to US$10 million (EUR 8.7 million) under the EBRD’s “Youth in Business” programme in Central Asia, which is specifically designed to support MSMEs established and led by individuals under the age of 35. In addition to financial support, young entrepreneurs will have access to educational and advisory services, as well as platforms for business networking and knowledge exchange, offered through the EBRD’s “Advice for Small Businesses” programme.

The remaining US$5 million (EUR 4.4 million) will be allocated to a broader range of small and medium-sized enterprises that play a significant role in the country’s economy, contributing approximately 56% of Uzbekistan’s gross domestic product.

Since beginning operations in Uzbekistan, the EBRD has invested nearly EUR 5.6 billion across 174 projects, with the vast majority of these investments directed toward supporting and developing private enterprise. For the past five years, Uzbekistan has consistently held the leading position among Central Asian countries in terms of EBRD funding volumes.