Prime Minister of Uzbekistan Shavkat Mirziyayev resolved to adopt on a programme develop micro financing in Uzbekistan till 2010 in early June 2007. The programme envisages creation of new micro finance organization in all regions of Uzbekistan.
The main directions of the programme are creation of economic and organizational environment for expansion of credit unions and micro finance organizations’ network in all territory of Uzbekistan with full coverage of population.
It also set as target to create effective legislative base for regulation of micro finance organizations and credit union and create resource base for these organizations due to commercial resources of financing.
The programme will also focus on diversification of micro finance products, including micro leasing, and additional products.
The document said number of credit unions and micro finance organizations will increase from current 38 to 159 as of 1 January 2010, of which 62 will be credit unions and 97 – micro finance organizations.
The credit investments of credit unions and micro finance organizations will increase from 22.9 billion soums as of 1 May 2007 to 127 billion soums as of 1 January 2010.