Saturday, 22, February, 2025
Saturday, 22, February, 2025
President Shavkat Mirziyoyev signed an updated version of the Guarantees for protection of individuals' deposits in banks Law on Tuesday. According to the Law, the deposit protection limit shall now stand at 200 million soums per depositor in one bank. If a person has deposits in several banks, then each deposit shall be insured separately.
The Asian Development Bank (ADB) has approved a $125 million loan to support the Government of Uzbekistan in its efforts to modernize the water management sector, improve water security, and increase access to safe and reliable water supply in the country, the bank's press service said.
Transport Minister Ilkhom Makhkamov held talks with the head of the representative office of the Korean Eximbank in Tashkent, Sangjin Kang, the UzA agency said today.
In January 2025, the Banking Supervision Committee of the Central Bank chaired nine meetings, where it reviewed 44 items and issued decisions.
Uzbek banks ended 2024 with a net profit of 6 trillion 966 billion soums, $ 540 million, by almost 44 % down to the last year. According to Bankers.uz, banks in which the government holds stakes ended the year with a total loss of 317.2 billion soums. This was mainly due to the huge losses of Microcreditbank (-1.7 trillion soums) and Business Development Bank (-2.2 trillion soums). Also, the net profit of Aloqabank, Agrobank and Asakabank declined sharply compared to 2023.
The senators passed Guarantees for the protection of bank deposits Bill, the Senate’s press service said on Thursday.
The rise in power and gas tariffs in April 2025 will add 1.8-1.9 percentage points to the overall inflation rate, the Governor of the Central Bank, Timur Ishmetov said today at a press conference.
The BOD of the Central Bank at its today’s meeting decided to keep the interest rate at 13.5% per annum, the Bank's press service said today.
On January 20, 2025, Minister of Investment, Industry and Trade Laziz Kudratov hosted the Ambassador of Japan, Takashi Hatori. They signed the Yen Loan Exchange Notes (Note 1) of the "Healthcare and Medical Services Improvement Project" for a total of 22.953 billion yen. This Yen Loan Project applies the Special Terms for Economic Partnership (STEP, Note 2).
The Binance cryptocurrency exchange will launch operations in Uzbekistan through a local partner, the National Agency for Prospective Projects (NAPP) said.
In 2024 the EBRD set an investment record in Uzbekistan by signing 34 projects the amount of €938 million (US$ 960 million). The country once again became the leading recipient of the Bank’s funding in Central Asia. 55 per cent of the Bank’s investments were supporting green economy projects.
The World Bank has released a new report providing an in-depth analysis of Uzbekistan's services sector, a key driver of economic growth. The report highlights the sector's challenges and opportunities, and recommends reforms required for its liberalization and modernization, leading to increased labor productivity, jobs, and investment, thereby contributing to sustained growth.
On January 9, 2025, at the Ministry of Health of Uzbekistan was held a ceremony of signing grant contracts within the framework of the Japanese Government’s "Grant Assistance for Grassroots Human Security Projects". H.E. Mr. Hatori Takashi, Ambassador Extraordinary and Plenipotentiary of Japan to the Republic of Uzbekistan attended and signed the agreement.
On December 27, President Shavkat Mirziyoyev signed a decree extending the deadlines for privatization of several government-owned banks.
The European Bank for Reconstruction and Development (EBRD) will provide a $66.4 million in a loan to the National Electric Networks of Uzbekistan for a power transmission line (PTL) project, the EBRD’s press service said.
The World Bank has approved $3.5 million in financing for Uzbekistan in the form of a payment guarantee to support the country’s development of renewable energy. This support will secure the obligations of the state-owned National Electric Grid of Uzbekistan JSC to purchase electricity from a new 100-megawatt (MW) solar power plant to be constructed and operated by Voltalia (France) in the Khorezm province.
The Asian Development Bank (ADB) has been appointed as a transaction advisor to the Ministry of Preschool and School Education and the Ministry of Economy and Finance to support the delivery of high-quality preschool education via public–private partnerships (PPPs) in Jizzakh, Kashkadarya, Surkhandarya and Tashkent provinces in Uzbekistan. ADB is already providing similar advisory services for developing 100 preschools in the Samarkand province.
The National Agency for Perspective Projects (NAPP) issued order setting licenses fees for crypto asset circulation service providers Tuesday, the Ministry of Justice said.
President Shavkat Mirziyoyev at the government meeting on Monday instructed the Uzbek banks to increase the share of SMEs in their loan portfolio, presidential press service said.
The Asian Infrastructure Investment Bank (AIIB) has approved USD 250 million in financing to support the acceleration of Uzbekistan’s climate transition towards a green, inclusive, and resilient economy.