State Competition Committee, World Bank to coordinate efforts in small businesses development

Tashkent, Uzbekistan (UzDaily.com) -- State Competition Committee of Uzbekistan hosted a meeting the mission of the World Bank to discuss practical aspects of cooperation on support small businesses, including via the Guarantee fund on development of the small entrepreneurship.

The meeting was held within preparation of the World Bank project on expanding jobs and improving skills in the context of modern economic development, the Uzbek committee said.

The World Bank specialists noted the process of development of small businesses is effective mechanism of improving employment of population.

The mission highly rated creation of the Guarantee fund, which will support and help small businesses and expressed interest in cooperation with the fund.

The sides discussed use of credit line of the World Bank to develop small businesses and improve potential of the Guarantee fund.

The parties also discussed participation of the World Bank as the founder of the Guarantee Fund, which will assist to improve investment potential of the fund and introduce advanced corporate management methods.

The Guarantee fund was created in February 2017. The charter capital of the fund is 100 billion soums and distributed among 22 founders.

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