Central Bank of Uzbekistan Unveils Women Entrepreneurs Finance Code at Launch Event

The Central Bank of Uzbekistan, in a groundbreaking move towards fostering financial inclusion and economic empowerment, has announced the launch of the Women Entrepreneurs Finance Code.

The launch event, hosted by the Central Bank of Uzbekistan in partnership with the National Commission on ensuring Gender equality under Oliy Majlis Senate of the Republic of Uzbekistan brought together key stakeholders, policymakers, and representatives from the financial and business sectors, as well as media representatives. The event underlines the collective commitment to enhancing financial accessibility for women entrepreneurs, promoting gender equality, and driving sustainable economic growth. The project highlights the importance of collecting sex-disaggregated data, promoting women's leadership within financial institutions, and introducing innovative measures to support women entrepreneurs. This initiative, signed in collaboration with the Business Development Bank and Halq Bank, marks a significant milestone in supporting female entrepreneurship across Uzbekistan.

At the meeting, international experts gave information regarding the Women Entrepreneurs Finance Code (WE Financial Code), and it was noted that this project was officially launched in October 2023 at the annual meeting of the World Bank and the IMF in Morocco and is being tested in 26 countries of the world.

Also at the meeting, the memorandum signed between the European Bank for Reconstruction and Development and the Commission on Ensuring Gender Equality in Uzbekistan regarding the implementation of the Women Entrepreneurs Finance Code in Uzbekistan, as well as the Head of State's Decree adopted on March 7 of this year on "Additional measures regarding supporting the establishment and development of women's entrepreneurship" the content of the decree
PD-122 was explained in detail.

As the Women Entrepreneurs Finance Code promises to bring about transformative change, not only within the financial sector but also in the broader socio-economic fabric of the country. The Central Bank of Uzbekistan's leadership in this endeavor reflects a deep understanding of the pivotal role that women play in driving sustainable economic growth and development.

The launch event included a series of presentations from the EBRD, Asian Development Bank and UN Women. These presentations covered topics such as designing and implementing women's economic empowerment strategies and further actions for the effective rollout of the We Finance Code. This policy dialogue served as a platform for establishing a National Coalition for the implementation of the We Finance Code.

For more information on the Women Entrepreneurs Finance Code and how to get involved, please visit the official We-Fi website. https://we-fi.org/we-finance-code/

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