Meeting Held with World Bank Representatives on SME Development

Economy
29/08/2025

Meeting Held with World Bank Representatives on SME Development

Tashkent, Uzbekistan (UzDaily.com) — On 26 August, a delegation from the World Bank met with Ilhom Norkulov, First Deputy Minister of Economy and Finance of the Republic of Uzbekistan.

The meeting included Neil McKain, Head of the International Finance Corporation (IFC) office in Uzbekistan; Martin Melekki, Senior Economist at the World Bank; leading financial sector specialists Yerali Beksultan and Valeria Goffe; Timur Khusanov, Director of a Ministry of Economy and Finance department; Abbasxon Mahamatov, CEO of the Entrepreneurship Development Company JSC; and other responsible officials.

During the discussions, the parties focused on expanding cooperation in developing small and medium-sized enterprises (SMEs) in Uzbekistan, as well as implementing joint initiatives and projects in this area.

Particular attention was given to supporting SMEs, ensuring broader access to financial resources, and promoting financial inclusion; developing and implementing new projects under the FINGROW program (Financial Inclusion for Growth, Returns, and Opportunities for Work); as well as creating quality formal jobs and enhancing entrepreneurial opportunities through SME development.

At the end of the meeting, both sides agreed to further strengthen cooperation and continue exchanging views on the identified priorities.

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