Tashkent, Uzbekistan (UzDaily.com) — On 12 June, First Deputy Minister of Economy and Finance Ilkhom Norkulov met with representatives of the International Finance Corporation (IFC) to discuss enhanced collaboration in support of small and medium-sized enterprises (SMEs).

The IFC delegation included Senior Operations Officer Tarik Sahovic, Operations Officer Emil Abdikalikov, and several other key specialists.

During the meeting, both sides exchanged views on developing Uzbekistan’s startup ecosystem within the broader SME development strategy through 2030. Discussions focused on expanding financial and technical support to strengthen entrepreneurship and job creation.

The IFC, a member of the World Bank Group, is dedicated to fostering private sector growth in developing countries. In Uzbekistan, it has been a longstanding partner in areas such as banking, infrastructure, and private sector development.

As part of the ongoing collaboration, the IFC proposed organizing specialized training programs for venture fund staff and relevant government agencies. It also offered assistance to enhance startup infrastructure, including support for the National Venture Fund UzVC’s Startup Coordination Center, through acceleration and incubation programs, and “train-the-trainer” initiatives.

Additionally, both sides discussed legal frameworks for alternative financing tools such as crowdfunding and angel investing, with an eye toward improving the financial landscape for startups and SMEs.

The meeting concluded with a mutual commitment to deepen existing cooperation, launch new joint projects, and continue building strong institutional partnerships.