Uzbekistan and Türkiye - Access to Finance for Jobs and Growth (FINGROW) Program using the Multiphase Programmatic Approach (MPA) - Chair Summary

Jul 19, 2026

Chair Summary dated December 15, 2025 presents executive directors’ approval of an overall financing envelope for the Access to Finance for Jobs and Growth (FINGROW) program under the Multiphase Programmatic Approach (MPA) Phase 1. The package includes a US$100 million loan to Uzbekistan with US$50 million from the Global Solutions Accelerator Platform, a US$5 million grant from the IBRD Surplus-Funded Livable Planet Fund, and a guarantee to Türkiye Vakiflar Bankasi T.A.O. totaling US$867.8 million equivalent. Directors emphasize closing regional finance gaps, expanding jobs—especially for women and youth—coordinating IBRD, IFC, and MIGA financing, and using impact measurement to support the learning agenda.

LanguageEnglish

CategoryResearch & Report

FormatPDF

Pages1

Reading Time3 min

Executive Directors’ Financing Approval

Phase 1 Components and Amounts

Director Discussion and Program Rationale

Regional Sequencing and Impact Measurement

Public Disclosure Authorized Public Disclosure Authorized Uzbekistan and Türkiye Access to Finance for Jobs and Growth (FINGROW) Program using the Multiphase Programmatic Approach (MPA) Phase 1 Chair Summary* December 15, 2025 Executive Directors approved the proposed overall financing envelope in the amount of US$2.1 billion equivalent for the Access to Finance for Jobs and Growth (FINGROW) Program using the Multiphase Programmatic Approach (MPA) including Phase 1: (i) a loan to the Republic of Uzbekistan in the amount of US$100 million, of which US$50 million from the Global Solutions Accelerator Platform,(ii) a grant of US$5 million to the Republic of Uzbekistan from the IBRD Surplus-Funded Livable Planet Fund, under the Framework for Financial Incentives, and (iii) a guarantee to Türkiye Vakiflar Bankasi T.A.O. (Vakifbank) in the amount of US$867.8 million equivalent. Ms. Rechico and Mr. Maluck wished to be recorded as abstaining. Directors noted that it would be critical to narrow access to finance gaps for businesses and people in the region as a key pathway to boosting productivity, growth, and creation of more and betterpaid jobs. They welcomed the ambition of the MPA, with its strong contribution to new and better jobs, particularly for women and the youth. Directors expressed their strong support for the One World Bank Group approach, and for deploying coordinated financing across IBRD, IFC, and MIGA to mobilize private capital at scale. Directors emphasized the importance of the program’s regional, sequenced approach, designed to address persistent market gaps, foster regional solutions and advance its learning agenda. They welcomed the focus on impact measurement to inform the program’s learning agenda. Directors noted the innovative and scalable nature of the Phase 1 engagements in Uzbekistan and Türkiye, anchored on innovative approaches and private capital mobilization. Directors appreciated Management’s proposal to provide an informal briefing on the planned Georgia project in phase 2 before it is approved (assuming it meets the MPA Policy for delegated authority approval) . *This Summary is not an approved record.

FAQs

What financing was approved for FINGROW MPA Phase 1?

Executive Directors approved an overall financing envelope of US$2.1 billion equivalent for FINGROW under the MPA Phase 1, including Uzbekistan loan and grant components and a Türkiye bank guarantee.

How is Phase 1 expected to support jobs and growth?

Directors focused on narrowing access to finance gaps for businesses and people, boosting productivity and growth, and creating more and better-paid jobs, particularly for women and youth.

What approach does the program use across IBRD, IFC, and MIGA?

Directors emphasized deploying coordinated financing across IBRD, IFC, and MIGA to mobilize private capital at scale, using a regional sequenced approach to address persistent market gaps.

Jul 19, 2026

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