Saturday, 20, October, 2018

Finances

The National Bank for Foreign Economic Affairs of Uzbekistan and the Export-Import Bank of Africa (Afreximbank) signed a US$ 50 million worth of trade finance agreement Wednesday.

The Department for Combating Economic Crimes under the General Prosecutor Office of Uzbekistan and the Financial Intelligence Unit of the Republic of Korea signed a Memorandum of Understanding (MoU) on Monday on the margins of the sixth symposium of the Asia-Pacific Group on Combating Money Laundering, held in Seoul, Republic of Korea.

World Bank President Jim Young Kim said in a message to Uzbek President Shavkat Mirziyoyev congratulating him on the 27th anniversary of Uzbekistan's independance and mentioned about the US$1 billion worth of 8 additional projects that Uzbekistan and the World Bank are readying.

The Cabinet of Ministers issued a resolution approving the sale of the state’s share in in Uzbekistan Hotel. Currently, the state owns 80.13% in the joint venture LLC Otel O'zbekiston, which manages the hotel.

Strengthening its support for the private sector in Uzbekistan, the EBRD is providing a synthetic local currency loan of up to US$ 5 million to DAVR Bank. This is the first EBRD loan to the bank aimed at expanding access to finance for local micro, small and medium-sized enterprises (MSMEs).

President Shavkat Mirziyoyev today received the President of the European Bank for Reconstruction and Development Suma Chakrabarti, the presidential press service said.

EBRD President Suma Chakrabarti is visiting Uzbekistan from 31 July to 1 August 2018 to meet with the country’s President Shavkat Mirziyoyev as well as with Deputy Prime Ministers Sukhrob Kholmuradov, Alisher Sultanov and Jamshid Kuchkarov.

The Board of the Uzbek Central Bank decided to keep the interest rate at 14% per annum, with relatively high inflation rates are expected in the Uzbek economy in the second year-half.

Deputy Prime Minister, Minister of Finance Jamshid Kuchkarov met with the World Bank Country Manager for Uzbekistan Hideki Mori.

A consortium of banks headed by J.P. Morgan Chase will become the main financial consultant of Uzbekistan in obtaining a sovereign credit rating and issuing of sovereign bonds.