Covid-19 Loan Fund Supports SME’s in Uzbekistan
The Background:
UCreate Uzbekistan coordinates a network of faith driven entrepreneurs in Uzbekistan and the wider Central Asian region, that seek to grow and strengthen a new generation of entrepreneurs.
Our Aim:
Our aim was to tackle the weak entrepreneurial sector in Uzbekistan that is substantially disconnected from the key global networks, but that is a vital for business development and investment. Together with UCreate our goal was to build a future generation of faith driven entrepreneurs and an enterprise ecosystem in Uzbekistan that could then be replicated in other nations of Central Asia.
Another aim of our collaboration with UCreate was to support a number of entrepreneurs by providing loans to help them to survive the Covid-19 pandemic and to aid them in taking the next steps in building the overarching enterprise ecosystem.
Our Work:
Through an initial visit to Uzbekistan, followed by regular video conference calls, we gained an understanding of the challenges, vision and priorities of the local team. We then sought to support their priorities, the first of which was the provision of workshops for entrepreneurs who were affected by the Covid-19 pandemic. Along with UCreate, we raised a small Covid-19 loan fund to support a number of SMEs.
As a team, we envisioned what the enterprise ecosystem could look like, then provided encouragement, coaching and support to the local team as they sought to develop their own local network and global connectivity.
Measuring Success:
Around 100 lives have been positively impacted so far by the project and 15 participants have worked directly on the project. With regards to building the enterprise ecosystem, the full impact that lies ahead is yet to be determined but will unfold as plans are implemented.
In relation to working with Angello, UCreate appreciated the positive qualities that we brought into the project. In particular the alignment of values and shared passion for the unknown region and it’s faith driven enterprise. They described our partnership as ‘Friendship with aligned and trustworthy partners that wanted to serve with...not to be served.’