Management of Uzbek Business Development Bank gets acquainted with Hungarian experience

The decision of the President of the Republic of Uzbekistan dated 14 September 2023 “On measures of financial and institutional support for the development of small businesses” sets the task of studying the experience of foreign countries and introducing best practices in the development of small businesses.

Uzbekistan’s Business Development Bank collaborates internationally

To this end, the JSCB Business Development Bank is actively collaborating internationally. International experts from the European Bank for Reconstruction and Development, the Asian Development Bank and KPMG were involved in the work of the bank. Cooperation has been established with Sberbank of Russia and the Federal Corporation for the Development of Small and Medium Enterprises and MSP Bank on financing small businesses and digitalizing the financial services provided, and improving the skills of employees.

Photo: Business Development Bank Uzbekistan

Yesterday, a group of executives from the Business Development Bank got acquainted with the experience of the Hungarian Republic in financial support for small businesses.

In particular, bank representatives visited the offices of OTP Bank, the leader of the Hungarian financial market, where they got acquainted with the processes and services offered to entrepreneurs.

A meeting was also held with representatives of the Hungarian Chamber of Commerce and Industry. During the meeting, information was presented on the Chamber’s participation in assisting small businesses, as well as ongoing projects in the field of financial support for entrepreneurs.

Photo: Business Development Bank Uzbekistan

In addition, they got acquainted with the activities of the Kavos company, which works towards the development of small and medium-sized businesses. During the trip, there were also presentations of IT projects and software products for the digitalization of business services and companies specializing in improving the banking system.

Bank representatives also witnessed production processes at Ennoconn Hungary, a supplier of ATMs under the NCR brand. JSCB Business Development Bank plans to strengthen cooperative relationships with Hungarian companies in the future based on discussions and preliminary agreements during this trip.

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