Thursday, 20, June, 2024

Finances

The Government of Japan will provide US$ 1.9 million to help expand UNDP’s efforts in overcoming the socio-economic consequences of the COVID-19 pandemic in Uzbekistan.

The Japanese government will provide US$ 3 million to expand the business opportunities for women in rural areas of Uzbekistan in the context of the coronavirus pandemic, the Japanese embassy in Tashkent said.

The draft document: "Approval Of Offshore Jurisdictions" was published on the portal for discussion of draft regulations.

On May 21, the President Shavkat Mirziyoyev signed a resolution on financing the targeted support for citizens affected by the incident at the Sardoba reservoir dam and for restoration of infrastructure.

As part of the comprehensive response against the COVID-19 pandemic, the United States government announced an additional $3 million in funding through the U.S. Agency for International Development (USAID) to Uzbekistan.

The Executive Board of the International Monetary Fund (IMF) today approved the disbursement of SDR 275.6 million (50 percent of quota, about US$375 million) under the Rapid Credit Facility (RCF) and the Rapid Financing Instrument (RFI). This will help to meet Uzbekistan’s increased need for fiscal and urgent balance of payments financing arising from the impact of the COVID-19 crisis.

The Asian Development Bank (ADB) has allocated a $1.36 million grant for Uzbekistan to procure medical equipment and supplies to support the country’s efforts to combat the novel coronavirus disease (COVID-19) pandemic.

Bluestone Investment Bank, a U.S. based ivestment bank and brokerage, has been awarded three licenses for activities in the Uzbekistan securities market, the Uzbek Capital Market Development Agency said.

As reported earlier, the May 12 Presidential Decree approved the Uzbekistan’s Banking System Reforming Strategy for 2020-2025.

President Shavkat Mirziyoyev yesterday signed the Uzbekistan’s Banking System Reforming Strategy for 2020-2025 Decree.

The Central Bank expects a drop in GDP growth rates in 2020 to 1.5–2.5% due to a decrease in economic activity as a result of the coronavirus pandemic compared to 5.2–5.5% previously projected. Data provided in the review of the monetary policy regulator for the I quarter, the CB said in a report.

Twenty public-sector officials from Uzbekistan successfully passed the second of three levels of the Certified Public-Private Partnership Professional (CP3P) program; a platform that helps PPP practitioners deliver better projects. This program was developed by the World Bank Group and other leading development finance institutions and is administered by APMG International, a London-based examination institute.

The World Bank’s Board of Executive Directors approved today $200 million in additional development policy financing to support Uzbekistan’s ongoing health, social, and economic policy responses to the crisis caused by the COVID-19 pandemic. This financing will provide additional money for the government’s budget amidst a large decline in tax revenues and an unanticipated increase in expenditures to cover anti-crisis measures.

At the Ministry of Investment and Foreign Trade was held a video conference with L. Pavlova, Vice President of the European Investment Bank (EIB).

The World Bank approved a $95 million financing package to support Uzbekistan’s immediate response to the impacts of COVID-19 on the health and well-being of its citizens. The financing will be used to strengthen life-saving medical systems, as well as to provide income support to poor and vulnerable people affected by the economic consequences of the pandemic.

Uzbekistan plans to draw grants from the Japanese government to purchase the necessary medical equipment to counter the coronavirus pandemic, the Ministry of Investment and Foreign Trade (MIFT) said in a statement.

Georgian TBC Bank has obtained the full banking license, following the board of the Central Bank issuing resolution on April 11, the Central Bank said.

The Asian Development Bank (ADB) has approved a $60 million loan that will help improve and expand solid waste management (SWM) services in small urban and rural areas across Uzbekistan, as well as promote environmental sustainability.

Domestic businesses, including small and medium-sized enterprises (SMEs), in Central Asia’s most populated country, Uzbekistan, will be able to continue their business activities despite the outbreak of the coronavirus pandemic, thanks to a new trade finance facility provided by the EBRD to three local banks.

The Capital Market Development Agency of Uzbekistan intends to become the signatory of the Multilateral Memorandum of Understanding Concerning Consultation and Cooperation and the Exchange of Information of the International Organization of Securities Commissions (IOSCO MMOU) by the year-end.