Development finance assessment

DIMENSION 1: 
ASSESSING DEVELOPMENT FINANCE FLOWS
DIMENSION 1:
ASSESSING DEVELOPMENT 
FINANCE FLOWS
Finance has a critical role to play in delivering the national development outcomes and the 
2030 Agenda. Uzbekistan will need to mobilize the right scale and mix of all resources – public 
and private, domestic and international – while maximizing synergies and minimizing risks. 
This first dimension of the DFA’s analytical framework analyzes Uzbekistan’s financing 
trends. It builds as comprehensive a picture as possible of available public and private 
resources, flows and financial instruments (box 3). It first provides the financing outlook 
of all available development finance flows to Uzbekistan and puts it in perspective 
with known financing needs to achieve the SDGs. It then reviews each individual 
development finance flow and main actors. The findings from this chapter inform the 
INFF’s building block “
assessment and diagnostics”.
BOX 3. WHAT DOES THE DFA INCLUDE UNDER DEVELOPMENT FINANCE?
The DFA undertakes a uniquely holistic analysis of public and private finance in its broadest sense. 
Development finance as analysed by the DFA can be grouped into four broad categories, according to 
whether they are public or private in nature and sourced domestically or internationally:
ƒ
Domestic public: government resources that originate from domestic sources, like non-grant government 
revenue and government borrowing from domestic sources
ƒ
Domestic private: private sector resources that originate from domestic sources, like private sector 
borrowing from domestic sources and domestic philanthropy or spending by NGOs
ƒ
International public: government resources that originate from international sources, including ODA, 
south-south cooperation, other official flows from ‘donor’ countries, borrowing from foreign bilateral and 
multilateral institutions and foreign private entities that is received or guaranteed by the state
ƒ
International private: private sector resources that originate from international sources, like FDI, portfolio 
investment (equity), private borrowing from international sources, remittances and international 
philanthropy or spending by INGOs
It is understood that not all this available finance contributes to actual development results in the country. 
Therefore, the DFA analyses the existing performance monitoring systems that enable linking specific 
financing flows to the intended development results.
OVERVIEW OF TOTAL DEVELOPMENT FINANCE
Figure 5 presents the evolution and projections for each development finance flow in 
Uzbekistan. These projections account for the likely impact of the COVID-19 crisis on each one 
of these flows, based on the latest available data from national and international sources. This 
figure provides the ‘big picture’ of the evolution of development finance flows in Uzbekistan. 
This chapter assesses each one of these development flows in more detail. It is important to note 
these graphs start in 2017 because of missing adequate time series to analyze trends prior to 
2017
17
. (For illustrative purposes, Annex 2 provides data tables that go back to 2013) 
Government revenues have traditionally been the largest source of development finance 
in Uzbekistan. They represented 27.8 percent of GDP in 2018, down from 30.3 percent in 
17
Dimension 4 highlights the main shortcomings of Uzbekistan’s national data ecosystem.

---

22
DEVELOPMENT FINANCE ASSESSMENT FOR THE REPUBLIC OF UZBEKISTAN
Figure 5 Overview of Development Finance Flows, Uzbekistan
0%
5%
10%
15%
20%
25%
30%
35%
2025 (p)
%
o
f 
G
D
P
Government
revenue
Domestic debt
Private domestic
investment
Net ODA Received
Other Official Flows
External debt (LT,
flow)
FDI Inflow
Inward Remittances