World Bank Document

improve access to finance. IFC is helping to expand secure access to finance for individual 

consumers and MSMEs by working with financial intermediaries and improving the regulatory 

environment. IFC supported well-managed local banks through equity investments, SME credit 

lines, as well as trade finance. These products supported the growth of the IFC clients’ SME loan 

portfolio from about US$120 million to US$285 million for nearly 14,600 SMEs. In addition, IFC 

advisory services supported the certification program for risk management professionals in the 

banking sector and financial literacy program for SMEs jointly with the Chamber of Commerce of 

Uzbekistan. To complement these efforts, IFC also provided advisory services to help its client 

banks develop customized financing products for farmers. The WBG supported legislative changes 

in the area of credit information-sharing and secured transactions and improvement of regulatory 

and supervisory framework of financial institutions. This work led to the establishment of a private 

credit bureau in 2012, and a modern internet-based collateral registry in 2014. 

 

16. 

IFC continues to actively explore with international sponsors larger investments in