According to Euronews, the European Bank for Reconstruction and Development is targeting support for young entrepreneurs in Uzbekistan to help bridge the gap in credit access. While small businesses currently represent over half of the nation's gross domestic product, many firms struggle to obtain loans due to a lack of formal records, collateral, and external institutional support.
This new funding initiative aims to address these structural barriers for small-scale enterprises. By providing the necessary backing and financial resources, the programme intends to foster growth for young business owners who have historically faced difficulties meeting traditional bank lending requirements. Euronews reports that this initiative is part of a broader effort to strengthen the local private sector.
Source: Euronews. Read the original report ↗