#USAID Launches a New Project to Support Businesses in Uzbekistan
The U.S. Agency for International Development (USAID) announced the launch of the Business Support Project, a groundbreaking initiative aimed at fostering #sustainable and #inclusive #economic #growth in #Uzbekistan. The launch event marks the beginning of a five-year journey towards enhancing the competitiveness of small and medium enterprises across four key sectors: information and communications technology #ICT, #tourism, #textiles, and the #greeneconomy.
The project is designed to partner with key stakeholders, including the #government of Uzbekistan and the #privatesector, to facilitate investment and foster business-to-business relationships. This initiative underscores the U.S. Government’s continued commitment to supporting Uzbekistan’s economic #development and regional economic integration.
USAID plans to provide $17.7 million over five years to the Business Support Project. The activity aims to achieve two primary objectives: reducing barriers to private sector growth and increasing private sector investment and access to finance. By focusing on these objectives, the program seeks to create a more enabling environment for business growth and innovation, thereby contributing to the overall economic prosperity of Uzbekistan.
The program features the announcement of the project’s Annual Program Statement #APS which outlines opportunities for grants and funding support worth $1.8 million for local enterprises and initiatives aligned with the program objectives. During this event, the spotlight also shone on the announcement of 10 new grantees as part of another USAID program, USAID's Future Growth Initiative #FGI. These selected entities are set to receive grants totalling $1.1 million. The overarching objective of this initiative is to bolster the engagement and competitiveness of women entrepreneurs, foster increased youth participation in entrepreneurship, and further develop the startup ecosystem in Uzbekistan.
Through the Business Support Project, USAID reaffirms its commitment to fostering a vibrant, #inclusive, and #sustainable economic landscape in Uzbekistan. The collaboration among government entities, private sector partners, and international partners is crucial to achieving the long-term success and impact of this initiative.
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USAID partners with the Government of Uzbekistan to diversify the country’s economy and increase regional trade, address infectious and pandemic health threats, and build the government’s capacity to respond to the population’s needs. For more information, please visit: https://lnkd.in/d6ZGQUmG and Facebook page: USAID Uzbekistan
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