The training was organized within the UNDP-supported projects “Complex development of territories” and “Support of microfinance sector development” in partnership with Microcredit Bank.

Microcredit Bank developed a regulation on group crediting to support small and private businesses, as well as to provide access to financing of low income families. The bank plans to develop group crediting product and pilot it at Kashkadarya, Surkhandarya, Andijan, Ferghana, Namangan regions and Karakalpakstan.

The UNDP projects allocated US$222,893 to Microcredit Bank to group crediting of businesses. At least 650 businesses from various regions of Uzbekistan will receive microcredits for developing their businesses.

Introduction of new product requires to improve knowledge of the Microcredit Bank’s specialists in places.

Group crediting is one of the most spread methods of microfinancing. The group crediting was introduced in Uzbekistan in 1999 within the UNDP and Uzbekistan Women’s Association project. Currently, majority of microcredit organizations, especially in rural areas, use group crediting.

UNDP project “Support of microfinance sector development” developed module on methodology of group crediting. The course is directed at increasing knowledge and skills of Microcredit Bank in group crediting.

During the training, participants familiarized with various approves to group crediting in the world and learnt Latin American module, Gramin Bank module, etc. They also got acquainted with differences of group and individual crediting, formation of credit group and others.

It is planned that soon similar trainings will be organized for specialists of Microcredit Bank in Namangan, Andijan and Ferghana regions.