THE ROLE OF CREDIT BUREAUS IN DEVELOPING THE CREDIT INFRASTRUCTURE FOR PRIVATE ENTREPRENEURSHIP IN UZBEKISTAN

Abstract

Access to finance remains one of the most critical constraints facing small and medium-sized enterprises (SMEs) in transition economies. In Uzbekistan, where private entrepreneurship accounts for a substantial share of GDP and employment, the lack of reliable credit information infrastructure has historically impeded lenders from accurately assessing borrower risk. This study investigates the role of credit bureaus—specifically Creditinfo Uzbekistan—in expanding SME credit access by reducing information asymmetry between borrowers and lenders during the reform period of 2021–2026. Employing descriptive-statistical and comparative analysis methods, and drawing on secondary data from the Uzbekistan Central Bank, the State Statistics Committee, the World Bank Financial Development Database, Creditinfo Uzbekistan annual reports, and the IMF Article IV Consultation Report (2023), this paper analyses trends in credit bureau coverage, credit record accumulation, and SME lending volumes. The findings indicate that credit bureau coverage increased from 18.4% of the adult population in 2021 to an estimated 48.0% in 2026, with a corresponding rise in the SME share of total credit portfolios. These results suggest that systematic credit information sharing significantly enhances lender confidence and broadens credit supply to private entrepreneurs. The findings carry direct implications for regulators seeking to deepen financial inclusion and for commercial banks designing risk-based SME lending products.