Farming is crucial to the economies of Central Asia, yet the region's agricultural exports are limited due to poor infrastructure, regulations, and operational industry barriers, such as weak food safety standards.
Uzbekistan's financial sector lacks the skills and tools needed to serve the country's sizable agricultural market. But IFC's Central Asia Agri-Financing Project is advising local financial institutions and helping develop effective lending products.
Uzbekistan became a member of IFC in 1993. Since 1996, IFC invested $120 million to support 31 private sector projects in the financial, agribusiness and food sector. As of June 30, 2014, IFC’s committed portfolio in Uzbekistan stood at $25.3 million with investments in the financial and general manufacturing sectors.
IFC Strategy in Uzbekistan
IFC strategy in Uzbekistan is in line with the World Bank Group Country Promotion Strategy and is mainly focused on the financial sector and agribusiness. Through a combination of investment and advisory services, IFC works to improve the business environment, promote public-private partnerships, improve tax administration, and develop credit information infrastructure.
Details of projects currently in progress can be found in IFC Disclosure. For completed projects see press releases below or visit the IFC Press Room.