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Uzbekistan Country Gender Assessment Update
C. Finance
adB’s financial operations in Uzbekistan support rural housing and small businesses.
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this
support merges with good governance and capacity development to increase access to public
services and improved infrastructure.
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Multi-finance facility projects involve several equally
important sectors and are implemented through close engagement with participating national
financial institutions (commercial banks).
Uzbekistan has a two-level banking system: at the upper level is the Central Bank, the main
regulator of financial and monetary policy, and at the lower level are commercial banks and
micro-credit organizations. By the end of 2017, 26 commercial banks—including 3 state banks,
5 banks with foreign capital, 11 JSC banks, and 7 private banks—were registered in Uzbekistan.
In addition, foreign banks have six accredited representative offices in the country.
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Under its
multi-finance facility portfolio, adB collaborates with eight commercial banks, five of which
implement corporate gender policies initiated under adB projects.
1. Developing Small and Medium Enterprise and Private Entrepreneurship
Overall productivity in Central and West asia remains low. Key barriers to private sector
development include a lack of effective financial management skills, complicated bank
procedures, high interest rates, and a lack of equity financing mechanisms.
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Small and medium enterprises (SMes) have a predominant share of Uzbekistan’s gross
domestic product (Gdp)—a share that has grown slowly, from 56.1% in 2014 to 56.9% in
2016. In January–June 2017, SMes accounted for 46% of Gdp and established more than
16,000 small businesses. Industry and construction had the largest number of SMes (34%).
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Further, the SMe sector is a leading formal employer in the national economy, accounting for
78.2% of all employed people in 2016. Women’s share of the total number of micro, small, and
medium enterprise (MSMe) employees, including farm workers, also grew slowly, from 21.7%
in 2014 to 22.5% in 2016. Uzbekistan has achieved near gender parity in large companies and
nongovernment organizations (NGOs). the rate has been stable since 2014 and amounted to
49.5% in 2016.
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the absolute numbers of women’s representation in SMes are impressive: “In 2015 more than
120,000 small businesses, more than 4,550 farms (though constituting only 5% of total farms)
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the definition for multi-sector in
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