Small business lending in Uzbekistan increased by 19%.

Lending to micro, small, and medium-sized businesses (MSM) in Uzbekistan demonstrated significant growth, increasing by 19% from January to July 2026. The total volume of loans issued reached 90.3 trillion soums, compared to 75.9 trillion soums for the same period last year. These data were released by the Central Bank of the Republic of Uzbekistan.

Such funds were allocated under special entrepreneurship support programs, a 27% increase compared to 17.6 trillion soums a year earlier. Thus, the growth rate of lending under these programs outpaces the overall growth of small business lending.

According to the regulator's estimates, the share of program loans in total MSM financing was almost a quarter, or 24.9%. For comparison, this figure for the same period in 2025 was approximately 23.3%. This trend demonstrates the growing role of targeted programs in small business financing, amid an overall increase in lending volumes.

Across regions, the most significant growth in small business lending was recorded in the Navoi region, where loan volume increased from 2.46 trillion to 3.75 trillion soums, an increase of over 50%. Significant growth was also observed in the Bukhara (+34%), Namangan (+32%), and Fergana (+31%) regions. At the same time, small business lending volume decreased over the year in the Syrdarya (-3%) and Jizzakh (-2%) regions. Tashkent leads in absolute volume, issuing 23.2 trillion soums in loans during the reporting period.

Among banks, Business-Rivozhlanish Bank demonstrated the most significant growth, nearly doubling its lending volume. A group of smaller banks collectively increased their lending by 68%.

However, in a number of large banks, the volume of lending to small businesses has decreased: in Sanoatқurilishbank – by more than half, in the National Bank – by almost 19%, in Agrobank – slightly.