Tashkent, Uzbekistan (UzDaily.com) — The European Bank for Reconstruction and Development (EBRD) and the European Union (EU) are increasing access to financing for micro, small, and medium-sized enterprises (MSMEs) across Central Asia and Mongolia.

An additional €25 million in EU guarantees will be provided to local partner financial institutions to facilitate on-lending to this business segment.

This expansion builds on the existing Growth4All program, targeting a region where MSMEs form the backbone of the economy but often face challenges securing funding to grow their operations.

The comprehensive support package aims to boost both demand and supply of MSME financing by mitigating associated risks and encouraging financial intermediaries to extend new loans to enterprises most in need.

Approximately 3,500 enterprises in Kyrgyzstan, Kazakhstan, Mongolia, Tajikistan, Turkmenistan, and Uzbekistan are expected to benefit from this assistance.

The EU guarantees are provided via the European Fund for Sustainable Development Plus (EFSD+), which supports financing and investment projects in partner countries outside Europe under the EU’s Global Gateway investment strategy.

Odile Renaud-Basso, President of the EBRD, stated: “We are proud to support micro, small, and medium businesses through this guarantee, now extended to Central Asia and Mongolia. This is yet another compelling example of how our partnership with the European Union — a key ally — meets the everyday needs of businesses in the region, while underscoring our commitment to fostering strong, resilient, and inclusive enterprises.”

Valdis Dombrovskis, European Commissioner for Economy, Productivity, Implementation and Simplification, remarked: “This agreement allows the EU, together with the EBRD, to provide an additional €25 million in guarantees under the Growth4All initiative, expanding access to financing for MSMEs in Central Asia and Mongolia. Since MSMEs are fundamental to the economies of these countries, easing financing access will help create new jobs and opportunities, driving inclusive and sustainable economic growth.

This partnership exemplifies the EU’s dedication to building and strengthening mutually beneficial global relationships in line with the EU’s Global Gateway investment strategy.”