Saturday, 21, June, 2025
Saturday, 21, June, 2025
The European Investment Bank (EIB) is set to open a representative office in Uzbekistan as early as 2026 and increase the volume of investments in Uzbekistan’s sustainable infrastructure and that of the entire Central Asian province, stated the EIB’s Senior Credit Specialist Davide Monguzzi at the Tashkent Investment Forum on June 10.
The 4th CIS Islamic Banking and Finance Forum, organized by AlHuda Center of Islamic Banking and Economics (CIBE), commenced today at the Hyatt Regency, Regency Ballroom, in Tashkent. The event brought together prominent figures from the Islamic finance sector, including policymakers, industry leaders, and scholars, to discuss the latest trends and opportunities in Shariah-compliant finance.
The BOD of the Central Bank at its meeting today took a decision to keep the interest rate at 14% per annum. According to the Bank, in recent months, the trends of economic activity and consumer demand, as well as the trend of growth of core inflation, have indicated to the ongoing inflationary pressure onto the economy.
International investor interest in Central Asia and the Caucasus is rising rapidly, according to a new Investor Perception Report released today by Montfort Eurasia. As regional leaders gather for the Tashkent International Investment Forum, new data shows that interest from US and UK investors in the region has tripled since 2023 - despite lingering concerns over political stability and investment security. Investors showed particular interest in the development of the industrial and manufacturing sectors, oil and gas, mining and natural resources.
Alternative Investment Funds bill is being drafted in Uzbekistan, announced the President in his remarks at the Tashkent International Investment Forum on Tuesday.
The President of the European Bank for Reconstruction and Development (EBRD), Odile Renaud-Basso, will visit Uzbekistan on 10 and 11 June 2025 for meetings with senior government officials and foreign investors.
We often assume that public childcare services boost women's employment by freeing up their time. But what if the situation is more complex? In many traditional societies, multiple generations of women—mothers, grandmothers, and aunts—live together under one roof, yet few, if any, are employed. With informal childcare already widespread, does expanding public childcare still make a difference? And if so, how?
In Q1, the growth of Uzbekistan budget revenues of accelerated. the Ministry of Economy and Finance said in a quarterly report. Revenues increased from 52.6 trillion to 63.9 trillion soums, which is 11.3 trillion, or 21.5% more compared to the same period last year. For comparison, in the first quarter of 2024, the growth rate of revenues was only 11.6%.
Despite the macroprudential measures taken, concerns remain in Uzbekistan about the growth of the population's debt burden, especially in the microloans segment, the Central Bank said in its 2024 Financial Stability Review.
The global Islamic finance community will join in Uzbekistan this June for the highly anticipated 4th CIS Islamic Banking and Finance Forum, organized by AlHuda Centre of Islamic Banking and Economics (CIBE). Scheduled for June 16-18, 2025 at the Hyatt Regency Tashkent, this landmark event comes at a pivotal moment as the industry approaches its projected $5 trillion valuation by 2025.
A regional conference on the development of e-commerce in Central Asian countries was held in Tashkent. The event was organized by the World Bank in cooperation with the National Agency for Perspective Projects of Uzbekistan. The conference took place under the World Bank’s Elevate Global Access Through E-Commerce (E-GATE) in Central Asia Program.
On May 23, 2025, S&P Global Ratings revised its outlook on Uzbekistan to positive from stable. At the same time, we affirmed our 'BB-/B' long- and short-term foreign and local currency sovereign credit ratings.
The World Bank has approved a $200 million concessional credit to support Uzbekistan in modernizing its irrigation and drainage infrastructure and improving the quality of irrigation service delivery. The project aims to reduce water losses and increase the energy efficiency of irrigation systems across five regions of the country. The Government of Uzbekistan will provide $23.2 million in co-financing.
The World Bank’s Board of Executive Directors approved today a $100 million concessional credit to support Uzbekistan’s efforts to enhance integration of renewable energy into its electricity distribution networks and improve supply reliability in priority provinces. Uzbekistan’s Regional Electric Power Networks (REPN) will provide $50 million in co-financing. This marks the World Bank’s first-ever Program-for-Results (PforR) financing in the country.
The Ministry of Higher Education, Science and Innovations of Uzbekistan (MHESI) and KfW Development Bank, acting on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ), have signed a Separate Agreement to launch the next phase of a transformative initiative aimed at modernizing Uzbekistan’s Technical and Vocational Education and Training (TVET) system.
The Central Bank is tightening some terms for microloans, with its order, registered with the Ministry of Justice on April 22 and which will take effect on July 24.
The Board of Directors of the Central Bank in its regular meeting kept the interest rate unchanged at 14% per annum, the Bank’s press service said.
Delegations of Uzbekistan and China discussed the integration of the Uzbek payment systems with the Chinese WeChat Pay digital system. Details of the meeting were unveiled by the Central Bank on Wednesday.
The Central Bank unveiled plans to create a universal QR code for cashless payments, the Deputy Director of the Payment Systems Department at Central Bank Miraziz Mirhayotov said.
The Central Bank increased the key rate by 0.5 percentage points, setting it at 14 percent per annum. This decision is aimed at curbing inflationary expectations, taking into account the inflationary risks expected in the coming months, and creating sufficient conditions for achieving the 5 percent inflation target in the medium term.