The Central Bank of the Republic of Uzbekistan, in cooperation with the Agency for the Development of Livestock and Pasture Farming, held an open dialogue with entrepreneurs operating in the livestock sector.
The meeting aimed to hear directly from entrepreneurs about the banking, lending and financing issues they face, identify practical challenges, and discuss their proposals, initiatives and possible solutions with relevant stakeholders.
The open dialogue brought together representatives of the Central Bank, commercial banks and the Agency for the Development of Livestock and Pasture Farming, as well as nearly 400 livestock entrepreneurs from across the country.
Discussions covered entrepreneurs’ access to finance, lending terms, challenges in accessing banking services, and proposals for financing the sector.
In particular, participants raised questions and proposals concerning the financing of livestock projects, streamlined documentation requirements, loan application processing times, collateral and the requirements of foreign credit lines, as well as practical support from banks throughout the project financing process.
Particular emphasis was placed on shortening the time required to make financing decisions for livestock projects, given the seasonal nature of the sector, as well as closely monitoring each stage of the loan application process, identifying bottlenecks promptly, and maintaining regular communication with entrepreneurs.
Representatives of the Central Bank and commercial banks provided clarification on the issues raised. The discussion highlighted the need to develop proposals to simplify documentation requirements for livestock projects, expedite environmental assessment procedures, and explore alternative financing options. Participants also proposed developing a dedicated banking product tailored to the financing needs of the livestock sector.
Particular attention was also paid to how banks engage with entrepreneurs. It was stressed that their role should extend beyond requesting documents and collateral to providing practical support throughout the financing process, explaining documentation requirements and financing terms, and, where necessary, conducting on-site project assessments.
More than 50 questions and proposals were raised during the meeting. Most were addressed on the spot through relevant explanations and solutions, while matters requiring further review were taken forward for follow-up with the relevant commercial banks and responsible institutions.
At the conclusion of the open dialogue, follow-up actions were set out to systematically assess the issues faced by livestock entrepreneurs in accessing banking and financial services, address the matters raised on a case-by-case basis, adapt banking services to the specific needs of the sector, and maintain direct engagement with entrepreneurs.
