Ministry of Economy and Finance of the Republic of Uzbekistan

The meeting was attended by Michael Wimmer, representative of the German Embassy in Uzbekistan, Andreas Schneider, head of the KfW bank's representative office in Uzbekistan, as well as Timur Khusanov, Director of the Department for Analysis, Support and Coordination of State Policy for Small and Medium Business Development at the Ministry of Economy and Finance, Bekhruz Karimov, Deputy Director of the State Debt Department, and other responsible representatives.

        For information: KfW Bank of Germany is one of the state development banks that provides financing services to support economic progress, social stability, and environmental sustainability. The bank assists developing countries and finances projects in areas such as energy, climate, water, education, healthcare, and others. Furthermore, the bank operates with the aim of contributing to the United Nations Sustainable Development Goals (SDGs).

        During the dialogue, the parties discussed ongoing reforms aimed at developing SME, financial support measures for small and medium businesses, and expanding cooperation to create favorable financial conditions for business entities.

Furthermore, in the course of discussions, the parties exchanged views on the economic growth processes in our country, the ongoing work on agricultural and regional development, as well as the development of capital and financial markets.

At the same time, during the meeting, an agreement was signed with the participation of the German Development Bank to secure a loan of 23.5 million euros and a grant of 3 million euros for Phase III of the "Micro, Small and Medium Business Development" project.

For information: The main objective of the "Micro, Small and Medium Business Development" project, with the participation of the German Development Bank, is to support the sustainable development of small and medium-sized businesses in Uzbekistan, meet their needs for financial resources and modern knowledge, as well as contribute to economic growth and employment by enhancing their competitiveness.

At the conclusion of the negotiations, the parties agreed to develop and strengthen mutual cooperation ties and to expand the process of exchanging views on the aforementioned issues.

Information Service

Ministry of Economy and Finance