The objective of this study was to provide an assessment of the SME sector in Uzbekistan, through a careful analysis of the latest trends in the development of the Uzbek business environment and the legal framework relevant for SMEs in general and women-led SMEs in particular.  The assessment provided the European Development Bank an identification of key constraints faced by each sub-segment of SMEs and women-led SMEs in accessing finance, while also including recommendations on possible measures to address the supply and demand side challenges faced by SMEs and women-led SMEs.