Wednesday, 09, October, 2024
Wednesday, 09, October, 2024
The World Bank’s Board of Executive Directors approved a financial package of $800 million in highly concessional loans to support Uzbekistan’s reform agenda geared towards advancing the country’s transition to an inclusive and resilient market economy.
The Central Bank has accredited a representative office of the Export-Import Bank of China, the Bank’s press service said.
President Shavkat Mirziyoyev today landed in Samarkand to attend the annual meeting of the Board of Governors of the Asian Infrastructure Investment Bank (AIIB), the presidential press service said.
The Asian Development Bank (ADB) today approved a $300 million sector development program to support the Government of Uzbekistan’s efforts to expand access to finance for unbanked and underbanked microenterprises, fostering sustainable and inclusive growth in the country.
The Asian Infrastructure Investment Bank (AIIB) will hold its Ninth Annual Meeting of the Board of Governors, themed “Building Resilient Infrastructure for All,” on September 25-26, 2024, in Samarkand, Uzbekistan. It will be the bank's first meeting in Central Asia.
The European Bank for Reconstruction and Development (EBRD) is helping to decarbonise fertiliser production and power generation in Uzbekistan by financing a pilot renewable hydrogen facility. It will consist of a 20 MW electrolyser and a greenfield 52 MW wind power plant.
The Asian Development Bank (ADB) launched a new country partnership strategy for Uzbekistan covering 2024−2028 that will support the country’s reforms to transform into a green and inclusive economy, the bank said.
Fitch Ratings has affirmed Uzbekistan's Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'BB-' with a Stable Outlook. A full list of rating actions is at the end of this rating action commentary.
The Asian Development Bank (ADB) has approved two policy-based loans totaling $400 million that support the Government of Uzbekistan’s initiatives to enhance the country’s financial markets and develop a sustainable, market-led power sector.
The Central Bank set a new exchange rate of foreign currencies to the Uzbek soum from July 31. The US dollar to soum exchange rate has fallen by almost 93 soums over three trading sessions, to 12,345.12 soums, which is the lowest rate since March 12 (12,534.01 soums).
The BOD of the Central Bank at its July 25, 2024 to cut the interest rate by 0.5 percent to 13.5 percent per annum, the Bank said today.
The State Asset Management Agency (SAMA) announced the start of the privatization of the National Interbank Processing Center (Humo). The 100% government’s stake will be sold through a Public Invitation to Negotiatein three stages.
The BOD of the Central Bank decided to revoke the licenses of two companies in response to their requests, the bank's press service said. The license of the private Qulay Pul payment system, which operated under the United Fintech brand, has been revoked. On November 27, 2021, the company received a license and became the third payment system operator after Humo and Uzcard.
The Asian Development Bank (ADB) has approved a $100 million concessional loan to help the Government of Uzbekistan improve perinatal health services for pregnant women and their newborns.
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The share of cash in the total money supply decreased In the first half of 2024, the Central Bank said in a report. As of July 1, the total money supply (M2, includes cash in circulation and non-cash funds) topped 236 trillion soums, an increase of 24.2% over the year. The volume of cash (M0) increased over the year by only 6% - to 50 trillion soums.
NMMC (Navoi Mining and Metallurgical Company) has received its first credit rating from S&P Global Ratings. The Company was assigned a long-term credit rating of 'BB- ' with outlook 'Stable', which aligns with Uzbekistan’s sovereign credit rating.
The Central Bank set a new exchange rate for foreign currencies to the Uzbek soum for June 28. The US dollar to Soum rate fell by another 25.11 soums at the end of day trading. In general, the US dollar weakened against the Soum for the sixth trading day in a row (since June 21), losing almost 88.75 soums - from 12643.91 to 12555.16 soums. This is the minimum figure since March 13 (12,546 soums).
Uzbekistan has become the first country in the world receiving a payment from the World Bank for reducing carbon emissions through a policy crediting program.
The World Bank’s Uzbekistan Country Gender Assessment Report (CGA), produced with the financial support of the government of the United Kingdom, serves as a diagnostic tool to evaluate the state of gender equality in the country.