India, Dec. 1 -- DUSHANBE - The impacts of the Russian invasion of Ukraine on small businesses in Central and West Asia underscore the need for improved strategies to strengthen the entrepreneurial base in the region, according to a report by the Asian Development Bank (ADB).

The effects on micro, small, and medium-sized enterprises (MSMEs) in the region are multiple and vary by country, according to the first and second volumes of Asia Small and Medium-Sized Enterprise Monitor 2022, released today.

MSMEs play a prominent role in the private sector in Central and West Asia. They accounted for 98.9% of all businesses, 46.1% of the workforce, 40.7% of economic output, and almost one-third (32.4%) of total exports on average, based on avai...