The United Nations Development Programme (UNDP) and Uzbekistan’s Business Development Bank (BDB) have entered into a new strategic partnership to expand support for entrepreneurs across the country, with a particular focus on women and youth-led businesses.

The collaboration was formalised at a signing ceremony held at BDB’s headquarters in Tashkent, where a Memorandum of Understanding (MoU) was signed by Shokhzod Yusupov, First Deputy Chairman of BDB, and Akiko Fujii, UNDP Resident Representative in Uzbekistan.

With both institutions bringing distinct strengths to the table, the joint effort is set to strengthen the foundation for small and medium-sized enterprises (SMEs) by aligning national development goals with international expertise.

“BDB is more than a financial institution—we are ‘a partner in progress’,” said Mr. Yusupov. “We support over 1.3 million clients through our 14 regional centres, offering training, mentorship, and access to markets. This partnership with UNDP will help us go further by promoting financial literacy, digital inclusion, and green finance opportunities in underserved areas.”

Under the agreement, BDB will advance its reach and support for entrepreneurs by delivering mentorship, financial guidance, and training. UNDP, in turn, will contribute global experience through a variety of targeted initiatives and inclusive development tools, including the Women’s Entrepreneurship Support Programme, launched earlier this year to help women gain essential skills and assistance to grow their businesses.

The new partnership is part of a wider framework supported by the Global Accelerator on Jobs and Social Protection, a UN initiative that is being implemented in Uzbekistan. This global programme will directly contribute to strengthening the capabilities of BDB staff and expanding SME support services throughout the country.

“This partnership is not just about finance,” said Ms. Fujii. “It’s about building a stronger, more inclusive economy—one where small business has access to the tools, networks, and opportunities they need to grow. Together with BDB, we want to ensure that no one is left behind.”

Training and capacity-building activities planned under this collaboration are supported through the UN joint programme “Global Accelerator on Jobs and Social Protection”, which aims to enhance national mechanisms for employment and social protection by boosting SME growth, improving service access, and encouraging the development of green and formal employment opportunities.

The joint programme is funded by the Joint SDG Fund. UNDP expressed sincere appreciation for the contributions made by the European Union and the governments of Belgium, Denmark, Germany, Ireland, Italy, Luxembourg, Monaco, the Netherlands, Norway, Poland, Portugal, Republic of Korea, Saudi Arabia, Spain, Sweden, and Switzerland in accelerating progress towards the Sustainable Development Goals.