New jobs to be created through the development of modern financial services

The Central Bank of the Republic of Uzbekistan and the World Bank organized a conference focused on bold policy measures and private capital mobilization strategies to boost the use of digital payments among individuals and improve the access to capital for small and medium-sized enterprises across Central Asia. These efforts aim to create new and more sustainable jobs in the region.

The event was attended by the leadership of the World Bank, the International Finance Corporation, the Central Bank, and the Ministry of Economy and Finance, representatives of international financial institutions, as well as private sector leaders, including executives of leading fintech companies., as well as leaders of the private sector, including top executives of leading fintech companies.

At the conference, it was noted that access to credit resources in Central Asia has been steadily improving in recent years, alongside the growing adoption of financial innovations such as alternative credit scoring, digital lending, and data-driven risk assessment. Particular attention is being given to expanding credit access for the population, especially women entrepreneurs.

It was emphasized that the growth of digital payment services in the region could serve as a powerful driver for job creation in emerging sectors of the economy such as freelancing and e-commerce, offering additional opportunities for youth, women, and rural communities, improving access to employment and increasing economic activity.

During the event, representatives of the World Bank presented the Financial Inclusion for Growth, Returns, and Opportunities for Work Program for the Europe and Central Asia region (ECA FIN-GROW). Scheduled to launch in 2026, the program aims to expand access to capital and digital payments for individuals and SMEs in participating countries, improve access to credit resources, and ultimately contribute to the creation of new and more sustainable jobs.