Uzbekistan to digitize small business lending with new AI-based platform

Expanding the role of small and medium-sized businesses in the economy and improving their access to credit has been one of the central priorities of the New Uzbekistan reform agenda. While various programmes have been introduced in recent years – covering loans, subsidies, guarantees, and other forms of financial support – officials acknowledged that notable barriers remain.

The current loan portfolio allocated to small and medium businesses amounts to UZS 218 trillion, equivalent to 12% of GDP. However, the share of unsecured online microcredits remains low, and processing such loans takes an average of up to seven days. Entrepreneurs also have no way of receiving and comparing offers from multiple banks in a single place.

To address these gaps, the proposals presented to the president include launching a dedicated digital financial platform. Through it, business owners will be able to submit a loan application, receive commercial offers from several banks simultaneously, compare the terms, and choose the most suitable option.

The platform will be integrated with the e-government digital database infrastructure, allowing information about small and medium businesses to be fed to banks automatically. This is expected to cut down on paperwork, save time, and reduce the human factor in loan decisions.

From December 1, 2026, the platform is set to introduce an alternative scoring model built on artificial intelligence. Unlike traditional credit scoring, which relies primarily on credit history, the new model will factor in business activity, utility payments, turnover, tax data, and other digital indicators. This will make it possible to assess entrepreneurs who have no credit history at all, opening up financial services to a wider segment of the business community.

Going further, AI-generated recommendations will eventually be available to help entrepreneurs improve their credit profiles, assess potential risks, and plan business development. Commercial banks are also expected to roll out an AI consultant programme to help users develop business ideas and identify financing options tailored to the specific strengths and growth potential of their local communities.

Additional benefits are planned under the existing continuous small business support programme. Entrepreneurs who have previously used a microloan under the scheme and maintained a positive credit history will see the unsecured portion of their microloan ceiling raised from UZS 100 million to UZS 200 million.

Separately, interest cost subsidies will be extended to cover loans and leasing arrangements up to UZS 5 billion, regardless of the overall size of the credit.

Each year, 100 businesses that have expanded their operations and achieved strong results will be eligible for grants of up to UZS 300 million to cover costs related to digitalization, the adoption of international standards, and the introduction of green technologies.

President Mirziyoyev approved the proposals and instructed those responsible to focus particularly on expanding access for businesses without a credit history, as well as ensuring the platform's security and the protection of user data.