New Horizons of Business Financing at the Uzbekistan Central Bank and IFC Conference

he Central Bank of Uzbekistan, in collaboration with the International Finance Corporation (IFC) and FCI (Facilitating Open Account - Receivables Finance), held a conference dedicated to innovative methods of business financing using movable assets. The event brought together experts, business representatives, and financial institutions to discuss current issues and share experiences.

At the event, Deputy Chairman of the Central Bank of the Republic of Uzbekistan, A. Turdaliev, outlined ongoing efforts in the field of factoring and emphasized the goal of increasing factoring operations tenfold within the next three years.

The conference explored opportunities to expand access to financing for small and medium-sized enterprises (SMEs) through tools like factoring and supply chain financing.

Participants also discussed the fundamentals of factoring and supply chain financing, the regulatory environment, global trends, risk management, and the role of digitalization. Real-world examples of implementing factoring and supply chain financing in other countries were also presented.

“The conference will serve as an important step in developing the factoring and supply chain financing market in Uzbekistan,” noted Neil McCain, Regional Manager of the International Finance Corporation in Uzbekistan. “The use of tools like factoring will provide businesses with additional opportunities, including the creation of new jobs and increased contributions to overall economic development,” he added.

Participants highlighted the relevance of the issues discussed and expressed hope for further development of these tools to support businesses.