22 May 2024

In the second half of 2023, the Foundation took another significant step forward by intervening for the first time in a new country: Uzbekistan in Central Asia.

It financed the microfinance institution Renesans, for the equivalent of 1 million euros. Renesans’ mission is to provide quick and easy access to financial services for women entrepreneurs, sole traders and self-employed workers in rural areas.

To date, the institution has almost 7,195 customers, 54% of whom are women, and operates mainly in rural areas, accounting for 76% of its clientele.

Established in 2007, Renesans operates mainly in the Tashkent region and Karakalpastan, but aims to expand rapidly to cover all regions of the country with a network of 10 branches and 103 employees.

The Foundation’s funding will enable Renesans to provide loans to a number of small entrepreneurs, enabling economic growth and furthering its mission to improve prosperity and stability in Uzbekistan.