Thursday, 22, April, 2021

Finances

The Japanese H.I.S. Holdings is considering to buy a stake in one of the Uzbekistan banks. This was discussed at the meeting of the Uzbek Deputy PM/Minister of Investments and Foreign Trade, Sardor Umurzakov, with the CEO & Executive President at H.I.S., Hideo Sawada, the ministry said in a statement.

Uzbekistan ups the ceiling for the government external borrowing for 2020 to US$ 5.5 billion. The deputies of Legislative Chamber reviewed amending the State Budget for 2020 Law.

The Asian Development Bank (ADB) today announced that it has approved a $93 million loan to help enhance competitiveness in Uzbekistan and boost inclusive growth by improving market-relevant skills development for young people and unemployed job seekers.

The Deputy PM/Minister of Investments and Foreign Trade Sardor Umurzakov held online talks with the new President of the European Bank for Reconstruction and Development (EBRD) Odile Renault-Basso, the ministry said.

The Central Bank is holding its board meeting in Tashkent, the press service of the Central Bank. The meeting attendees reportedly decided to keep the interest rate at 14 percent per annum.

A meeting with executives of the European Bank for Development and Reconstruction (EBRD) was held at the Central Bank, together with the Ministry of Finance of Uzbekistan.

IFC, a member of the World Bank Group, is helping DAVR-BANK expand its financing for micro, small, and medium-sized enterprises (MSMEs) and women-owned businesses across Uzbekistan. While these business groups were already constrained from accessing finance, the COVID-19 pandemic made the situation worse. IFC’s $5 million investment will provide critical working capital to help them continue their operations and stay afloat during the ongoing public health crisis.

The US$ 50 million Uzbek-Kyrgyz Investment Fund is to be set up. The decision was taken at the meeting between Uzbek Deputy PM/Minister of Investments and Foreign Trade Sardor Umurzakov and Kyrgyz Acting PM Artyom Novikov in Fergana, the Kyrgyz government said.

VEB.RF will provide a loan to Olmaliq Mining Metallurgical Complex (OMMC) for purchase of BELAZ mining dump trucks as part of the plant’s modernization project, the VEB.RF said in a statement.

S&P Global Ratings affirmed its long- and short-term foreign and local currency ratings on Uzbekistan at ‘BB-/B’. The outlook remains negative.