To expand access to finance for underserved entrepreneurs, IFC—a member of the World Bank Group—and DAVR-BANK have signed a $40 million loan agreement to boost lending to micro and small enterprises (MSEs) across Uzbekistan, with a focus on women-led businesses. The initiative aims to promote inclusive economic growth, empower small entrepreneurs, and create jobs.
The financing package, which comprises a $30 million loan from IFC’s own account and an additional $10 million loan mobilized from micro and small loans-focused impact investor Invest in Visions GmbH, will help address a critical financing gap for smaller businesses in the country. One-quarter of the funding will be dedicated to women-led businesses, which often face additional barriers.
“This partnership with IFC will allow us to significantly expand our support for small businesses and women entrepreneurs, who are key drivers of innovation and economic resilience in Uzbekistan,” said Abdumajid Samadov, Chairman of the Management Board of DAVR-BANK. “By increasing access to finance, we are helping to unlock the potential of thousands of business owners across the country.”
Micro and small enterprises form the backbone of Uzbekistan’s economy and account for a significant share of employment. However, many face persistent challenges in securing financing—particularly women-led businesses, which often encounter additional hurdles such as limited collateral and restricted access to formal banking services.
“Supporting micro and small enterprises, especially those led by women, is central to IFC’s mission in Uzbekistan,” said Alain Nounke, IFC’s Regional Industry Manager for Financial Institutions Group in Central Asia and Türkiye. “Through our investment in DAVR-BANK, we aim to foster inclusive growth, create jobs, and strengthen the country’s private sector.”
