Monday, 27, September, 2021

Finances

On 4 June 2021, S&P Global Ratings revised the outlook on its long-term ratings on Uzbekistan to stable from negative. At the same time, we affirmed the ‘BB-/B’ long- and short-term foreign and local currency sovereign credit ratings.

The Asian Development Bank (ADB) and JSСB Hamkorbank signed a loan for $20 million equivalent in Uzbek sum to expand access to credit for micro, small, and medium-sized enterprises (MSMEs) and agricultural borrowers. 

Uzbekistan’s chemicals and fertilizers sector has huge potential for growth, but turning it into a modern industry that can support the country’s needs and develop its export potential requires the right government reforms and private sector investments.

Uzbekistan’s public debt as of April 1, 2021 decreased by US$ 133.7 million - to US$ 23.2 billion, or 40.1% to GDP, the Ministry of Finance said in a report.

The Finance Minister Timur Ishmetov spoke about the privatization of state-owned banks in Uzbekistan at a meeting with young people at the Five Initiatives Movement event in Tashkent yesterday.

The World Bank's leadership expressed its readiness to support the Mazar-i-Sharif-Kabul-Peshawar railway project and to attract other international financial institutions, the Ministry of Investment and Foreign Trade (MIFT) said.

The government of Uzbekistan’s plans to develop 8 GW of solar and wind capacity by 2030 have received a major boost following the approval of an €87.4 million financing package jointly organised by, the European Bank for Reconstruction and Development (EBRD), the European investment Bank (EIB) and PROPARCO, a subsidiary of Agence Française de Développement. The funds will be used to construct and put into operation a 100 MW photovoltaic solar power plant near the city of Samarkand.

On April 30, the President Shavkat Mirziyoyev spoke about the problems and corruption in the banking sector at a meeting on the development of industry in the provinces.

On April 27, UzAuto Motors issued its first international Eurobonds of the RegS /144A format in the worth of $ 300 million for a period of 5 years on the London Stock Exchange, the press service of the Ministry of Finance of Uzbekistan said.

On April 27, the first 5-year government securities were issued at the e-trading on the Uzbek Currency Exchange, the Ministry of Finance said.