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Uzbekistan to attract ADB loan worth $100 million for business development

Uzbekistan is planning to attract a loan from the Asian Development Bank (ADB) in the amount of $100 million for the purposes of development of small and private businesses in 2016, according to the website of the bank.

The funds allocated for the project called "The second project for development of small business and entrepreneurship", will provide commercial banks and leasing companies with an opportunity to finance businesses in rural areas and women's entrepreneurship.

The project will also give the opportunity to assist the state in improving the business environment and access to financial resources. The Bank plans to consider the request for a loan from Uzbekistan in July 2016.

According to the ADB, in 2014 the share of small business in GDP was 56%. It accounted for 21% of total exports and 45% of imports. The total amount of loans allocated for the year amounted to 9.1 trillion. soums (US $ 3.4 billion.) - 6.3% of the GDP of Uzbekistan.

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