LocationsUNDP and Business Development Bank partner to empower entrepreneurs across Uzbekistan
July 28, 2025
Photo: UNDP Uzbekistan
25 July 2025, Tashkent — A new partnership was officially launched this week between the United Nations Development Programme (UNDP) and the Business Development Bank (BDB) of Uzbekistan, marking a promising step forward for small and medium-sized businesses across the country.
This partnership between BDB and UNDP aligns national goals with global expertise to support Uzbekistan’s SMEs, especially those led by women and youth. BDB enhances its impact through training, mentorship, and green financing, while UNDP strengthens regional outreach with inclusive development tools.
The two sides signed a Memorandum of Understanding (MoU) at BDB’s headquarters in Tashkent, with the aim of expanding support to entrepreneurs—especially women and youth—in all regions of Uzbekistan. The event was attended by Shokhzod Yusupov, First Deputy Chairman of BDB, and Akiko Fujii, UNDP Resident Representative in Uzbekistan.
“BDB is more than a financial institution—we are “a partner in progress,” said Mr. Yusupov. “We support over 1.3 million clients through our 14 regional centers, offering training, mentorship, and access to markets. This partnership with UNDP will help us go further by promoting financial literacy, digital inclusion, and green finance opportunities in underserved areas.”
UNDP brings to the table a wide range of global experience and targeted initiatives, such as the Women’s Entrepreneurship Support Programme, which was launched earlier this year to equip women with the skills and support they need to thrive. UNDP is also implementing the Global Accelerator on Jobs and Social Protection, a global initiative that in Uzbekistan will support BDB’s staff training and enhance SME support services across the country.
“This partnership is not just about finance,” said Ms. Fujii. “It’s about building a stronger, more inclusive economy—one where small business has access to the tools, networks, and opportunities they need to grow. Together with BDB, we want to ensure that no one is left behind.”
The training and capacity-building activities under this partnership are supported within the framework of the UN joint program “Global Accelerator on Jobs and Social Protection”, which aims to strengthen national systems for inclusive employment and social protection through SME development, improved access to services, and the promotion of formal and green jobs. This joint program is supported by the Joint SDG Fund. We sincerely appreciate the contributions from the European Union and the governments of Belgium, Denmark, Germany, Ireland, Italy, Luxembourg, Monaco, the Netherlands, Norway, Poland, Portugal, Republic of Korea, Saudi Arabia, Spain, Sweden, and Switzerland in accelerating progress towards the SDGs.
