The European Bank for Reconstruction and Development (EBRD) established the Financial Intermediaries Capacity Building Technical Cooperation Programme in March 2017 with the goal of supporting EBRD’s re-engagement with the financial sector in Uzbekistan. Specifically, the Programme focuses on enhancing institutional capacity at EBRD partner financial institutions in Uzbekistan through the promotion of sound banking principles, comprehensive risk management frameworks and best practice MSME lending approaches. In order to implement the Programme, the EBRD established a framework contract over a period of five years, during which the EBRD may call upon a selected, pre-qualified consultant company to quickly obtain reliable services. EBRD awarded the framework contract for this programme to a KPMG-led consortium with IPC being in charge of the SME lending component.

As part of the Programme framework, the consultant team initially established a project office and team in Uzbekistan and conducted diagnostic studies at five different Uzbek financial institutions, identifying MSME technical assistance and/or risk management advisory needs.

Based on this, the consultant team has developed and proposed individual technical assistance packages for each partner institution, including detailed programme implementation plans. The consultant team has also developed and organised centralised training events based on experiential learning methods, conducted multiple workshops for bank managers, and designed a Programme website. To date, the consultant team has provided targeted assistance to four banks and one leasing company, including assignments related to the implementation of SME lending, the strengthening of risk management and strategic planning, and the development of SME-focused leasing.

As the Programme continues, the consultant team will continue to provide technical assistance as necessary to the EBRD to strengthen the financial sector generally, and access to reliable finance for SMEs particularly, in Uzbekistan.