MANILA, Nov 13 (NNN-PNA) – The Asian Development Bank (ADB), said yesterday that, it has approved a 300-million-U.S.-dollar policy-based loan, to support Uzbekistan’s efforts, to expand access to finance for underserved micro-, small-, and medium-sized enterprises.
The loan represents Subprogramme 2 of the ADB’s Inclusive Finance Sector Development Programme, which builds on earlier reforms under Subprogramme 1, aimed at establishing legal and institutional frameworks for inclusive finance, the ADB said in a press release.
Some of these reforms include increasing the maximum microloan size, adopting changes to microfinance regulations, joining the Women Entrepreneurs Finance Code, and developing Islamic microfinance regulations, the Manila-based bank said.
“This programme will help unlock access to finance for the self-employed and micro-entrepreneurs, promote gender equality, and strengthen consumer protection in the financial sector,” said ADB Country Director for Uzbekistan, Kanokpan Lao-Araya.– NNN-PNA
