Friday, 07, May, 2021

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.

According to the Central Bank, the parties discussed the development of the Uzbek banking sector, focusing to the transformation of commercial banks, in particular JSCB Asaka and Aloqabank.

It was noted that the banks have been diagnosed, and based on the findings the EBRD will develop a scenario for the transformation of two commercial banks.

The EBRD executives underscored that the European Bank for Development and Reconstruction supports the Central Bank's strategy based on increasing the capitalization of banks and aimed at achieving more confident growth and better quality of lending to the real sector of the economy, including also attracting new foreign investors to the equity of banks. The success of this process will enable the EBRD to develop full-scale multilateral cooperation in the banking sector in Uzbekistan.

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