Thursday, 20, January, 2022

Finances

On January 1, 2018, Uzbekistan will transition to the international method of calculating the inflation rates. It is one of the government’s steps of transitioning to the inflation targeting system, the first deputy chairman of the Central Bank (CB) Timur Ishmetov said yesterday at a meeting of the International Press Club.

Asian Development Bank (ADB) Vice-President Wencai Zhang today met with the Prime Minister of the Republic of Uzbekistan Abdulla Aripov. Mr. Zhang reiterated ADB’s support for the government’s development agenda and expressed confidence in the country’s economic prospects. 

Following the launch of a broad reform programme in Uzbekistan, the EBRD is taking its engagement with the Central Asian country to a new level by opening an office and signing the first new projects since 2010.

Uzbekistan has made substantial investments in upgrading its water supply and sanitation (WSS) services over the past decade, amassing the largest public borrowing portfolio for WSS projects of any country in Central Asia. Despite such progress, residents – particularly in rural areas - continue to face challenges in accessing clean and reliable water services.

The 16th Central Asia Regional Economic Cooperation (CAREC) Ministerial Conference was held in Dushanbe (Tajikistan).

The European Bank for Reconstruction and Development (EBRD) is reviewing financing of two more projects in Uzbekistan.

Uzbekistan inflation rate reached 7.8% in nine months, which is by 2.2 percentage points higher than last year, the Central Bank of Uzbekistan (CBU) said.

The Government of Uzbekistan in 2018-2019 plans to attract $200 million in a loan from Turkish Ziraat Bank for construction and reconstruction of affordable multi-storied housing in Uzbekistan's cities.

Uzbekistan firms applied for a total of $51.18 million EBRD loans for three projects. A USD 30 million loan in favour of Ipoteka-bank to be split between a senior MSME loan of up to USD 25 million with the proceeds to be on-lent to eligible subborrowers, and up to USD 5 million for trade finance activities.

Turkish state lender Ziraat Bank, a partner in Uzbekistan’s first foreign bank, UTBank, aims to grow its investments in the country by purchasing the remaining shares and rebranding the bank, Ziraat Bankası said yesterday.

The President of the EBRD Suma Chakrabarti today send a message to the President of Uzbekistan Shavkat Mirziyoyev.   

President of Uzbekistan appointed Anvar Karimov, former chief of Financial Department of the Syrdarya province governor’s office, as Deputy Finance Minister.

Since 1992 the monetary contribution of the UN system to Uzbekistan has been about US$471 million, the UN Country office in Uzbekistan said in a statement.

President Shavkat Mirziyoyev signed the Measures To Implement The Electrification of Pap-Namangan-Andijan Railway Project Decree co-financed by the Asian Development Bank.

The Board of Directors of the European Bank for Reconstruction and Development (EBRD) approved the first two projects for financing in Uzbekistan yesterday.

The European Investment Bank (EIB) and the Republic of Uzbekistan signed today in Washington a framework agreement establishing the legal basis for the EIB's activities in Uzbekistan, including the provision of finance and technical assistance.

Uzbek Government delegation including Deputy PM Jamshid Kuchkarov and Chairman of the Central Bank Mamarizo Nurmuratov attended the annual meeting of the Board of Governors of the International Monetary Fund and the World Bank Group in Washington (USA) on 13-15 October 2017, the Uzbek Foreign Ministry said in a statement.

Russian companies and financial institutions intend to take part in the construction of Uzbekistan GTL plant (OLTIN YO'L GTL).

The Russian Export Center (EXIAR) will open credit lines for four Uzbek banks for a total of $ 300 million, the company general director, Pyotr Fradkov said today in Tashkent.

Uzbek Foreign Minister Abdulaziz Kamilov hosted a delegation of the European Bank for Reconstruction and Development (EBRD), led by the Managing Director for Central Asia and Russia, Natalia Khanzhenkova, the Uzbek Foreign Ministry said in a statement.