Switzerland Allocates $20 Million in Grants to Bolster Sustainable Development and Business Growth in Uzbekistan

The Swiss government is intensifying its strategic cooperation within Central Asia, placing a significant emphasis on the expansion of Uzbekistan’s private sector through the "Support for Accelerated Growth of Entrepreneurship" (SAGE) program. This initiative, which focuses on fostering inclusive and climate-resilient employment through private investment, has officially entered its second phase. Scheduled to run from May 2025 through December 2029, SAGE Phase 2 is being spearheaded by Accelerate Prosperity, an organization under the umbrella of the Aga Khan Development Network (AKDN), specifically targeting the growth of startups and small and growing businesses (SGBs) throughout the region.

Under this newly launched phase, the program is set to deliver a comprehensive suite of resources, including specialized business support, expert mentorship, educational modules, and avenues for strategic networking to more than one hundred entrepreneurs across Uzbekistan. Reinforcing its long-term commitment to the economic stability of the region, the Swiss government announced in April 2026 a substantial grant allocation exceeding $20 million, which is equivalent to 18.3 million Swiss francs. These funds are earmarked specifically for Uzbekistan’s sustainable advancement as part of the broader regional strategy spanning from 2026 to 2029.

The distribution of these financial resources is strictly aligned with Switzerland's core development priorities. Official data indicates that 58% of the grants are dedicated to projects involving water resources and energy, reflecting a critical focus on climate resilience. Furthermore, 29% of the budget is reserved for sustainable economic development programs that directly mirror the objectives of the SAGE initiative in driving business scalability. The remaining 13% will be channeled into projects aimed at enhancing effective governance and the protection of human rights. Uzbekistan is slated to receive 12% of the total Swiss budget for the Central Asian program, which also encompasses Kyrgyzstan and Tajikistan.

Ambassador Konstantin Obolensky clarified that this financial assistance is provided strictly in the form of grants rather than credit lines, funded directly by Swiss taxpayers. This approach emphasizes the transfer of technical expertise and the implementation of scalable pilot projects. The current SAGE program builds upon the foundations laid during Phase 1, which operated from 2020 to April 2025. During that initial period, Accelerate Prosperity exceeded its goals by 64%, providing vital support to 54 entrepreneurs in Tajikistan. Of those enterprises, 30 received funding totaling nearly $1,127,883, which successfully created 220 new jobs and preserved 668 existing ones.

The economic partnership between Uzbekistan and Switzerland continues to show remarkable momentum that extends well beyond the scope of the SAGE initiative. By the end of 2025, trade turnover between the two nations surged by 84%, reaching a total of $591.4 million, with 114 companies operating in Uzbekistan backed by Swiss capital. Beyond sustainable development, the two nations are prioritizing collaborations in pharmaceuticals, biotechnology, industrial automation, energy, and the mining and geology sectors. These collaborative efforts align with the strategic direction of President Shavkat Mirziyoyev, who has set a national target for the small and medium enterprise (SME) sector to account for 55% of the country's economy by 2025.