ADBI Working Paper 997
D. Tadjibaeva
12
Figure 13: Small Business and Microfinance Lending Distribution by Regions
Source: Central Bank of Uzbekistan.
Out of $13.4 billion in bank loans only $0.89 billion were allocated in the form
of microloans, covering less than one third of an existing
demand from micro and
small businesses. Based on the survey, the potential market for micro and small
business finance can be estimated at $5.5 billion (see Table 9). This is consistent
with
the IFC-McKinsey MSME survey, estimating the current MSME financing gap of
Uzbekistan at $11.8 billion (see Table 4).
Table 4: Demand Assessment
#
%
Bankable
Net
Demand #
Estimated
Average Loan
Size ($)
Estimated Net
Demand ($)
Registered operating
SMEs
229,600
39%
89,544
29,086
2,604,500,219
Farm enterprises*
132,356
na
na
na
na
Dehkan farms**
4,769,000
30%
1,430,700
2,000
2,861,400,000
Unregistered
individual
entrepreneurs minus
dehkan farms***
531,000
10%
53,100
1,000
53,100,000
Total
5,519,000,219
Source: 2018 IFC Demand Study Micro and Small Business Finance & Digital Financial Services in Uzbekistan.
Table 5: MSME Demand for Finance in Uzbekistan
Potential Demand
for Finance
Micro, $ million
SME, $ million
MSME, $ million
Current Supply
85
5%
1 647
14%
1 732
13%
Finance Gap
1,631
95%
10,159
86%
11,790
87%
Total
1,716
13%
11,806
87%
13,522
100%
Source: MSME Finance Gap Report 2017.
