Monday, 22, July, 2024

Finances

The Uzbek Capital Market Development Agency issued an advisory license to Deloitte representative office in Uzbekistan.

The National Interbank Processing Center LLC (NIPC - Uzcard brand) has once again changed the ownership, it follows from the data of the Unified State Register of Enterprises and Organizations.

The Asian Development Bank (ADB) has approved a $100 million loan to strengthen Uzbekistan’s resilience to public health emergencies, including the coronavirus disease (COVID-19) pandemic, by steadily improving testing, diagnosis, and the management of COVID-19 cases over the next two years.

The Central Bank of Uzbekistan entered into agreements with the International Finance Corporation (IFC) to implement two projects aimed at improving the regulatory environment for the development of electronic and digital financial services and realizing programs to improve financial literacy, the press service of the regulator reported.

The Japanese government and the United Nations Food and Agriculture Organization (FAO) will donate US$ 7.25 million for the second project to improve locust management in Central Asia, the Japanese Embassy in Uzbekistan said.

In January-June 2020, the average monthly salary before tax in Uzbekistan was at 2.5 million soums (240 USD), a 21.6% increase compared to the same period in 2019, the State Statistics Committee said in a report.

The Asian Development Bank (ADB) has delivered more medical supplies and equipment to Uzbekistan as part of its commitment to help the government respond to the coronavirus disease (COVID-19) pandemic.

The Central Bank of Uzbekistan has announced the volume of gold and foreign exchange reserves. As of July 1, Uzbekistan's official gold and foreign exchange reserves amounted to US$ 32.3 billion, with monetary gold at US$ 19.4 billion and foreign exchange - US$ 12.4 billion, while in the beginning of the year, the figure was at US$ 29.1 billion.

The Central Bank keeps interest rate unchanged at 15% per annum, the CB said in a statement. Following the regular meeting held on Thursday, the CB Board announced that the interest rate shall be set at 15% per annum.

On July 21, Deputy Foreign Minister Furqat Sidiqov held talks with Deputy Director General of the Kuwait Fund for Arab Economic Development, Marwan Abdullah al-Ghanim (KFAED), the Foreign Ministry said.

The European Union launched today a comprehensive EUR 3 million Central Asia COVID-19 Crisis Response (CACCR) solidarity package, addressing the needs of Central Asian countries. Implemented by the World Health Organization the CACCR programme will provide support to mitigate the current outbreak of the COVID-19 pandemic. It will also contribute towards longer-term resilience of the national health systems of the Central Asian countries by increasing their capacities to respond to similar public health threats, should they occur in the future.

The largest bank in Hungary, OTP Bank, plans to enter the Uzbek market. The prospects for opening a bank in the country were discussed at a meeting between the Uzbekistan Deputy PM Sardor Umurzakov and the Minister of Foreign Affairs and Trade of Hungary Peter Szijjártó in Tashkent.

The European Union and the French Development Agency (FDA) on July 10 approved funding of 1.5 million euros for a safe medical waste disposal project in Samarkand, the agency’s said.

US$500 million agriculture modernization project finance agreement was signed with the World Bank on July 11. On behalf of Uzbekistan, the agreement was signed by the Deputy PM/Minister of Investment and Foreign Trade Sardor Umurzakov, while on behalf of the World Bank, Regional Director for Central Asia Lilia Burunciuc.

Asian Development Bank (ADB) President Masatsugu Asakawa and Uzbekistan’s Deputy Prime Minister, Minister of Investments and Foreign Trade, and ADB Governor Sardor Umurzakov today discussed ADB’s ongoing support for Uzbekistan’s fight against the coronavirus disease (COVID-19) pandemic and the bank’s portfolio of projects in the country.

On July 6, in Seoul were held talks between the Deputy Prime Minister/ Minister of Investments and Foreign Trade of Uzbekistan Sardor Umurzakov and the Deputy Prime Minister/Minister of Economy and Finance of the Korea Republic Hong Nam-ki, the press service of the MIFT said in a statement.

On June 30, the Deputy Prime Minister/Minister of Investment and Foreign Trade of Uzbekistan Sardor Umurzakov hosted the Executive Director of the United States International Development Finance Corporation (DFC) Adam Boehler and discussed prospects of cooperation as part of strengthened Uzbek-US ties.

Uzbekistan that sold its first international bond just last year is eyeing up a green-debt sale, in the latest sign that sustainable finance has entered the mainstream.

The Asian Development Bank (ADB) today approved a $500 million loan to help the Government of Uzbekistan mitigate the adverse health and economic impacts of the coronavirus disease (COVID-19) pandemic.

IFC, a member of the World Bank Group, is providing a pre-privatization loan of up to $35 million equivalent in Uzbek Soum to Ipoteka-bank to expand the bank’s financing to small and medium enterprises (SMEs) in Uzbekistan. The financing will also help the state-owned bank transform into a commercially viable private bank.