BAKU, Azerbaijan, June 1. The Ministry of
Economy and Finance of Uzbekistan, in collaboration with the World
Bank, has finalized the subsequent operational stages of two major
enterprise development initiatives, namely the FINGROW and SaBIIT
projects, Trend
reports via the ministry.
The portfolio review was conducted during a meeting between
Ilhom Norqulov, First Deputy Minister of Economy and Finance of
Uzbekistan, and Cécile Thioro Niang, World Bank Practice Manager
for Finance, Competitiveness, and Innovation.
The ongoing “Access to Finance for Jobs and Growth” (FINGROW)
Project is structured around the deployment of structured guarantee
mechanisms and a fund-of-funds investment architecture, aimed at
fostering energy-efficient and high-potential small and medium
enterprise (SME) development. Complementing this, the conceptual
design of the forthcoming “Scaling & Accelerating Better Jobs,
Investment, and Inclusive Transformation” (SaBIIT) Project was
reviewed, focusing on enhancing productivity, modernizing startups,
and integrating new exporters into global value chains.
Additionally, the parties examined the technical preparations
for the World Bank’s forthcoming B-READY Subnational Assessment, a
diagnostic tool designed to evaluate regional business practices.
This assessment will systematically analyze administrative
procedures in areas such as construction permitting, international
trade, and property registration to generate evidence-based policy
recommendations.
Institutional coordination for these initiatives will be
consolidated through the newly established Small Business and Jobs
Coalition, a unified platform intended to harmonize funding from
international financial institutions, mitigate project duplication,
and optimize credit allocation to the private sector.
