Saturday, 20, October, 2018

Finances

The world’s first ever international Uzbek Soum- denominated bonds were today listed in the Main Market of the London Stock Exchange. The landmark bond issuance from IFC, a member of the World Bank Group, paves the way for the opening of the global Samarkand bond market to support financing of companies from Uzbekistan while raising the profile of the Uzbek Soum internationally.

A syndicated loan of up to USD 20 million to Ipak Yuli Bank comprising an A Loan of up to USD 10 million to be provided by the EBRD and a B Loan for up to USD 10 million to be attracted on a best effort basis. If successful, this will be the first syndicated loan arranged by the Bank in Uzbekistan in the Financial Institutions sector. The loan will be accompanied by Technical Cooperation (TC) funds.

The Asian Development Bank’s (ADB) Trade Finance Program (TFP) held its second TFP Bank Twinning program in Central Asia between Ameriabank from Armenia and Hamkorbank from Uzbekistan.

The Asian Development Bank’s (ADB) Board of Directors has approved US$198 million in additional financing to scale up its support in enhancing horticulture value chain development in all 12 regions in Uzbekistan as well as in the autonomous region of the Republic of Karakalpakstan.

The new version of Uzbekistan’s Central Bank Bill has been prepared in Uzbekistan. The document said that the Central Bank is a legal entity and is in the exclusive ownership of the state.

The European Bank for Reconstruction and Development has no plans to restart lending in Russia, but is upbeat on Central Asia following Uzbekistan’s move to implement long-delayed market reforms, its president told Reuters.

The World Bank forecasts global economic growth to edge up to 3.1 percent in 2018 after a much stronger-than-expected 2017, as the recovery in investment, manufacturing, and trade continues, and as commodity-exporting developing economies benefit from firming commodity prices, the World Bank's GLobal Economic Prospects said.

The Asian Development Bank’s (ADB) Board of Directors has approved a US$145 million loan to help improve water supply and sanitation services in the Republic of Karakalpakstan (RK), an autonomous republic in northwestern Uzbekistan. The project will benefit about 388,000 residents, half of whom are women and girls.

Uzbek Deputy PM/ Finance Minister, Jamshid Kuchkarov held talks with a group of Gazprombank officials Tuesday, the ministry said in a statement.

IFC, a member of the World Bank Group, has signed a mandate with the government of Uzbekistan to increase its renewable power capacity and encourage private sector investment in Uzbekistan’s renewable-energy sector.