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LESSONS:

Small and Microfinance Development Project

sector: Finance | country: Uzbekistan

Legal, regulatory, and institutional framework. Legal, regulatory, and institutional framework appropriate for microfinance is required for sustainable development and the successful implementation of projects.

Prudential supervisory and regulatory infrastructure and capacity. Prudential supervisory and regulatory infrastructure for bank and nonbank finance institutions with capacity and commitment to reform is essential to maintaining a stable and efficient financial system, regardless of size.

Government ownership. The success of any development program depends on strong government ownership and willingness to address key constraints.

Microfinance market development. Savings and credit union (SCU) growth by more than a factor of 10 demonstrated the market potential for microfinance in Uzbekistan.

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