UNDP efforts towards microfinance development in Uzbekistan 9-11 November 2005 Almaty, Kazakhstan BUILDING SUSTAINABLE MICROFINANCE IN RBEC Community of

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  • UNDP efforts towards microfinance development in Uzbekistan

    9-11 November 2005Almaty, Kazakhstan BUILDING SUSTAINABLE MICROFINANCE IN RBECCommunity of Practice Workshop Uzbekistan

  • UNDP introducing microfinance in Uzbekistan

    In 1998 first pilot micro-credit schemes were launched in Karakalpakstan and Kashkadarya regionsUNDP established three pilot microfinance projects with Kashkadarya region and Karakalpakstan branch offices of Business Womens Association and specialized NGO Daulet, provided initial loan funds ($116,000), training and technical assistance for capacity building

    Consolidated performance indicators as of 30 Sept 2005:

    Policy level: Development of enabling regulatory framework for non-banking microcredit operations (Resolution #309)

  • Lessons learnedA wide range of national institutions are required Coordination of efforts among donors, MFIs & Government bodies is a necessity Microfinancing is to be in line with Governments macroeconomic strategy From operational to strategic vision in MFIs management Lack of awareness and access to informationChallenges in expanding the geographical outreach of MF services to the distant regions of Uzbekistan

  • Meeting the challenges of MF development during the International Year of Microcredit, 2005 Joining the quality efforts of all key stakeholders National Committee established Study tour of rural microfinance organizations Conference of MFIs in CEE and NIS in Bucharest, Romania

    Building a strong legislative base acknowledging microfinance as an efficient tool in implementation of the Government reforms:sociological survey of microfinance sector;comprehensive national report on Microfinance development in Uzbekistan;Promoting legal reforms - draft Resolution of the Cabinet of Ministers On measures for further development of microfinance in Uzbekistan;Law on Microcredits and microcredit organizations developed and being currently considered in the Parliament

  • Meeting the challenges of MF development during the International Year of Microcredit, 2005 Increasing access to information:launch of www.microfinance.uz national web portal, conducting on-line forums on essential issues of MFDevelopment of Policy briefs - concise analytical summaries for policy decision makers, development stakeholders, donor community representatives and othersDiversifying MF services: Piloting innovative microfinance projects with Shakhrisabz Business Incubator, Kashkadarya region & micro-leasing project with Angor Business Incubator, Surkhandarya region

  • To be continued. toward achieving poverty reduction and efficient mechanisms of financial mediation Building institutional capacity of MFIs:Trainings for MFIs (Manual on MF)Introduction of new MF servicesProviding wider access to external financial resources MF as a tool toward enhancement of living standards:PRSPAgriculture sector reformMicro and small business development

    => Area based development in the most poor regions of Uzbekistan

  • Thank you!

    For additional information please visit:

    www.microfinance.uz Uzbekistan