Uzbekistan Quality Job Creation as a Cornerstone for Sustainable Economic Growth

Private Sector Development and Access to Finance
161
Access to finance is critical for creating jobs and boosting productivity, 
but services-related small businesses, especially knowledge-intensive and 
capital-intensive industries, have yet to obtain enough credit to expand 
their businesses and enhance job creation. Tech-based SMEs, most of 
which are in the service sector, seek access to long-term finance to maintain 
their quality of innovation, but commercial bank credit has yet to meet their 
financing demand.
Unit = SUM billion.
Note: Data collected on forms specially designed by the author. For figure a, author’s calculation. For 
figures b and c, data for the first half of 2018.
Sources: Data received from the Central Bank of Uzbekistan on 2 October 2018, and author’s calculations. 
a. Loans Disbursed
519
1,073
1,058
519
714
630
652
1,098
690
362
1,053
992
674
5,368
b. By Area
c. By Sector
Karakalpakstan
Andijan
Bukhara
Jizzak
Kashkadarya
Navoi
Namangan
Samarkand
Surkhandarya
Sirdariya
Tashkent (region)
Fergana
Khorezm
Tashkent (city)
Trade and catering
Industry
Construction
Agriculture
Transport and
communication
Others
0.0
0.5
1.0
1.5
2.0
2.5
3.0
3.5
0
500
1,000
1,500
2,000
2,500
3,000
3,500
2017-01
2017-02
2017-03
2017-04
2017-05
2017-06
2017-07
2017-08
2017-09
2017-10
2017-11
2017-12
2018-01
2018-02
2018-03
2018-04
2018-05
2018-06
SUM billion
Percent
Loans disbursed - individual entrepreneurs
Small business loans/total loans (%)
Loans disbursed - legal entities
33%
13%
8%
19%
5%
22%