Sunday, 19, August, 2018

Finances

A Loan Agreement was signed today in Tashkent between the Republic of Uzbekistan and the Kuwait Fund for Arab Economic Development, whereby the Fund will provide a Loan in the Amount of 9.0 Million Kuwaiti Dinars (equivalent to about US$ 30.6 Million), to the Republic of Uzbekistan, to participate in the financing of the Infrastructure for Rural Housing Project in the Republic of Uzbekistan. It is worth mentioning that the Fund depends exclusively on its own resources in providing its loans and development assistance.

Farmers and agribusinesses across Uzbekistan will receive more technical and financial support, leading to the creation of thousands of new and better jobs, thanks to the Additional Financing Horticulture Development Project approved yesterday by the World Bank’s Board of Executive Directors.

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 the International Treaty Decree Thursday approving the Framework Agreement between Uzbekistan and the European Investment Bank (EIB) on the activities of the bank in Uzbekistan.