Uzbekistan Adopts National Framework to Boost Women’s Access to Finance

The Central Bank of Uzbekistan, acting as the national coordinator, has developed a comprehensive national policy to implement the international We-Finance Code initiative. This strategic document is designed to establish an institutional framework that promotes a supportive environment for the growth of women’s entrepreneurship across Uzbekistan.
The new policy aims to unify relevant public and private stakeholders in creating a resilient ecosystem that encourages gender-responsive financial policies grounded in data. It also seeks to elevate Uzbekistan’s international reputation by advancing successful reforms and adopting global best practices. Participants in the initiative will gain access to international partnerships, innovative tools and customised financial solutions tailored to the needs of women-led businesses.
Commitment to Cooperation and Shared Responsibility
Led by the Central Bank, a national coalition of financial market participants has undertaken extensive collaborative efforts to draft and approve a set of Commitment Letters. These documents, signed by all participants, provide a roadmap for coordinated actions and shared accountability. They also define measurable goals to improve women’s access to financial services, including targets and indicators.
The We-Finance Code initiative is active in over 30 countries. In Central Asia, it is being implemented in Uzbekistan, Kazakhstan, Kyrgyzstan, Tajikistan and Mongolia. Notably, Uzbekistan is among the first in the region to finalise its national charter under the initiative.
Policy Development Backed by Global Expertise
Creation of the national framework was carried out in partnership with the European Bank for Reconstruction and Development (EBRD) and the international consulting firm ConsumerCentriX. The process included consultations with representatives from the financial sector and government agencies, ensuring that diverse perspectives and real-world insights informed the policy.
The policy’s development also drew on research by McKinsey & Company and the United Nations Development Programme (UNDP), providing a comprehensive analysis of the current state of women’s entrepreneurship in Uzbekistan and the barriers they face.
Key Components of the National Policy
The document outlines Uzbekistan’s strategic priorities for adopting the We-Finance Code and acts as a national guide for applying its core principles. It includes:
- Clear objectives and guiding principles of the national policy
- Defined roles for government bodies, banks, microfinance institutions and NGOs in supporting women-led businesses
- Mechanisms for monitoring, evaluation and reporting on implementation progress
- Criteria and procedures for selecting participating institutions
Under the initiative, each participating organisation is expected to contribute meaningfully within its scope of authority, helping to improve financial accessibility and promote equal opportunities for women entrepreneurs.
Kursiv also reports that in Uzbekistan, the share of women with a financial account rose to 50% in 2024.