EBRD arranges a financing package totalling US$ 6 million for Uzbek Leasing International. The funds will be directed towards aiding women entrepreneurs. This project is backed by the Women Entrepreneurs Finance Initiative.

The European Bank for Reconstruction and Development (EBRD) is injecting fresh capital and fostering new avenues for growth for women-owned and operated enterprises in Uzbekistan. Through a loan of up to US$ 6 million (€ 5.5 million equivalent) to Uzbek Leasing International (Uzbek Leasing), the EBRD aims to support women entrepreneurs in the region. This loan is provided within the framework of the EBRD’s Central Asian Women in Business program, which is bolstered by grant funding from the Women Entrepreneurs Finance Initiative. The initiative is tailored to promote women’s entrepreneurship and business endeavors by facilitating access to financial resources, expertise, and technical assistance.

Enhanced assistance for women entrepreneurs is imperative for Uzbekistan’s goal of elevating the proportion of small and medium-sized enterprises operated by women from the current 25 percent to 40 percent, aligning with the country’s 2030 strategy for gender equality.

For the fourth consecutive year, Uzbekistan remains the primary beneficiary of EBRD funding in Central Asia. The Bank has allocated approximately €4.36 billion to 147 projects throughout the nation, with a significant portion of these funds directed towards supporting private entrepreneurship.

Established in April 1991, the EBRD was formed with the objective of facilitating the transition towards open market-oriented economies and encouraging private and entrepreneurial endeavors. Since its inception, the EBRD has committed over €190 billion to over 6,800 projects spanning three continents. Renowned for its leadership in climate finance, the EBRD also provides active support to Ukraine and other nations impacted by the conflict in the region.

Read More: https://ciowomenleaders.com/