On February 20, the Deputy PM/Minister of Investments and Foreign Trade S. Umurzakov held a meeting with a delegation of SUEZ (France) led by Senior Executive Vice President Eric Ghebali, the ministry reported.
An International Monetary Fund (IMF) staff team led by Ron van Rooden conducted a remote mission from January 25 to February 16, 2021 in the context of the 2021 Article IV consultation with Uzbekistan. At the conclusion of the mission, Mr. van Rooden issued the following statement:
For the first time in Uzbekistan’s history, the Governor from the Republic of Uzbekistan - the Deputy Prime Minister/Minister of Investments and Foreign Trade S. Umurzakov was elected Chairman of the Board of Governors of the Islamic Development Bank (IDB) Group, the highest governing body of the Bank.
The level of dollarization of the Uzbek economy is planned to be cut from 50% to 45%, announced the Deputy Chairman of the Central Bank Behzod Khamraev.
The volume of Uzbekistan’s gross foreign exchange reserves as of January 1 topped US$ 34.9 billion, an increase by US$ 2 billion compared to December, the Central Bank said.
Despite the lockdown and pandemics, the volume of remittances to Uzbekistan in 2020 topped US$ 6.03 billion, an increase by US$ 17 million dollars or 0.3% to 2019, the Central Bank said.
The European Bank for Reconstruction and Development (EBRD) responded to the coronavirus pandemic challenges in Central Asia’s most populated country by pledging US$521 million (€429 million) through 18 projects in various sectors of the national economy. The EBRD resources were used to support the country’s banking sector and SMEs access to finance, upgrade key infrastructure and promote the development of renewable energy.
U.S. International Development Finance Corporation (DFC) and the Republic of Uzbekistan are proud to announce that they are expanding their partnership through Uzbekistan’s support for the Abraham (Ibrahim) Fund.
US$ 40.7 million will be provided for the reconstruction of two sections of the M39 Tashkent-Termez highway with a total length of 21 km, the Dec. 31 Resolution of the Cabinet of Ministers stipulated.
From January 1, Uzbek joint-stock companies, commercial banks, insurance companies and legal entities in the category of large taxpayers are required to keep accounting on the basis of IFRS and from the end of 2021 will prepare financial statements on the basis of IFRS.
Dairy products producers will have a greater variety of packaging at their disposal following the installation of a modern production line by Midas Plastics financed by the EBRD and Hamkorbank.
The Asian Development Bank (ADB) and “Nur Navoi Solar” Foreign Enterprise Limited Liability Company (NNS) signed loans of up to $17.5 million for a 100-megawatt (MW) solar power plant that will be the first public–private partnership renewable energy project in Uzbekistan. The project will play a catalytic role in improving access to affordable and reliable renewable energy in rural parts of the country.
The European Bank for Reconstruction and Development (EBRD) is financing a 100 MW solar photovoltaic plant in the Navoi region of Uzbekistan, one of the first two privately owned renewable energy projects in the country.
The UK government has approved technical assistance to begin the phase II of the study of the Tashkent international financial district concept (TIFC), the Uzbek Capital Market Development Agency said.
Uzbekistan total external debt as of October 1, 2020 amounted to US$ 29.3 billion, recording 19.7% or US$ 4.8 billion increase to the beginning of 2020, the Central Bank’s Balance of payments, international investment position and external debt of the Republic of Uzbekistan publication said.
As the demand for affordable medical goods fuelled by the outbreak of the Covid-19 pandemic has grown immensely in Uzbekistan, the EBRD is stepping up efforts to support local manufacturers in Central Asia’s most populated state.
The Government of Uzbekistan selected Nephroplus, one of Asia’s largest and fastest growing dialysis companies, as the winning bidder today in a competitive international bidding process designed to increase patients’ access to quality dialysis treatment.