Tuesday, 24, April, 2018

Finances

Small, medium and large-sized industrial enterprises in Uzbekistan will be able to improve energy efficiency and productivity, thanks to the Energy Efficiency Facility for Industrial Enterprises Project - Phase 3, approved yesterday by the World Bank’s Board of Executive Directors. The Project will be financed by a US$ 200 million loan from the International Bank for Reconstruction and Development.

Delegation of the Kuwaiti Fund for Arab Economic Development (KFAED), led by Deputy Director General Hisham Al-Waqayan arrived in Uzbekistan yesterday, the foreign ministry said.

Over 240,000 residents in five cities across Uzbekistan are to benefit from improved efficiency and quality of heating and hot water services, thanks to the District Heating Energy Efficiency Project approved yesterday by the World Bank’s Board of Executive Directors. The Project will be financed by a US$ 140 million credit from the International Development Association, a part of the World Bank. 

Official ceremony of signing of the Protocol Amending the Convention between the Government of the Republic of Uzbekistan and the Government of the United Kingdom of Great Britain and Northern Ireland on Avoiding Double Taxation and Preventing Fiscal Evasion with respect to Income and Capital Gains of November 15, 1993 took place in London yesterday.

President Shavkat Mirziyoyev yesterday hosted the World Bank delegation led by the Chief Executive Officer Kristalina Georgieva, the President’s press service reported.

The Central Bank of Uzbekistan on its website announced the main tasks for 2018:  The procedure of purchase and sale of foreign currency by legal entities and individuals is expected to be simplified, In particular, it is planned to allow the withdrawal of foreign currency cash from local cards, with the network of ATMs to be expanded to this end.

Delegation of Credit Suisse bank led by Managing Director Stefan Gerig arrived yesterday in Tashkent. The program of the visit includes meetings and talks in the Government of Uzbekistan, a number of ministries and agencies, banks, state companies to discuss promising cooperation projects.

President Shavkat Mirziyoyev signed  Approving an International Treaty Decree Thursday approving the Framework Agreement between Uzbekistan and the European Investment Bank (EIB) on the activities of the bank in Uzbekistan.

President Shavkat Mirziyoyev, by his December 29 decree, has approved the forecasts of main macroeconomic figures and parameters of the state budget for 2018. Earlier, Mirziyoyev rejected the draft budget approved by the Senate and said that he would personally draft it "focusing on people's welfare".

Bank sector outlooks for the CIS and Georgia in 2018 are mostly stable, helped by a more supportive economic backdrop and steps to reduce asset quality pressure stemming from recessions and currency devaluations in recent years, Fitch Ratings says.