Sunday, 21, January, 2018

Finances

Asian Development Bank (ADB) Vice-President Wencai Zhang today met with the Prime Minister of the Republic of Uzbekistan Abdulla Aripov. Mr. Zhang reiterated ADB’s support for the government’s development agenda and expressed confidence in the country’s economic prospects. 

Following the launch of a broad reform programme in Uzbekistan, the EBRD is taking its engagement with the Central Asian country to a new level by opening an office and signing the first new projects since 2010.

Uzbekistan has made substantial investments in upgrading its water supply and sanitation (WSS) services over the past decade, amassing the largest public borrowing portfolio for WSS projects of any country in Central Asia. Despite such progress, residents – particularly in rural areas - continue to face challenges in accessing clean and reliable water services.

The 16th Central Asia Regional Economic Cooperation (CAREC) Ministerial Conference was held in Dushanbe (Tajikistan).

The European Bank for Reconstruction and Development (EBRD) is reviewing financing of two more projects in Uzbekistan.

Uzbekistan inflation rate reached 7.8% in nine months, which is by 2.2 percentage points higher than last year, the Central Bank of Uzbekistan (CBU) said.

The Government of Uzbekistan in 2018-2019 plans to attract $200 million in a loan from Turkish Ziraat Bank for construction and reconstruction of affordable multi-storied housing in Uzbekistan's cities.

Uzbekistan firms applied for a total of $51.18 million EBRD loans for three projects. A USD 30 million loan in favour of Ipoteka-bank to be split between a senior MSME loan of up to USD 25 million with the proceeds to be on-lent to eligible subborrowers, and up to USD 5 million for trade finance activities.

Turkish state lender Ziraat Bank, a partner in Uzbekistan’s first foreign bank, UTBank, aims to grow its investments in the country by purchasing the remaining shares and rebranding the bank, Ziraat Bankası said yesterday.

The President of the EBRD Suma Chakrabarti today send a message to the President of Uzbekistan Shavkat Mirziyoyev.