Friday, 22, November, 2024

Finances

The World Bank Country Office in Tashkent hosted a workshop in the context of the preparatory work for launching the Digital Central Asia – South Asia (CASA) project in Uzbekistan. The project will contribute to digital infrastructure, e-government and digital economy development in the country.

World Bank Vice President for Europe and Central Asia Cyril Muller reconfirmed the World Bank Group’s strong commitment to support Uzbekistan as it goes through a major economic and social transformation, and encouraged Uzbek authorities to maintain the impressive pace and scope of reforms.

The Government of Uzbekistan issued a resplution approving the roadmap for 2018 aimed at financial improvement and boosting the efficiency of the companies that are part of UzbekEnergo, according to Norma.uz.

Starting from July 2, the Central Bank of Uzbekistan will be issuing 50 (fifty), 100 (one hundred), 200 (two hundred), 500 (five hundred) soum coins into circulation, the Central Bank published the design of coins.

There should be no rush to adopt the new tax concept, President Shavkat Mirziyoyev said at government meeting devoted to tax reforms last week. He noted the importance of taking into account foreign experience and the proposals made by international organizations.

Uzbekistan’s transformational economic reforms, aimed at improving people’s lives, will be supported by a US$ 500 million development policy financing loan, approved today by the World Bank’s Board of Executive Directors.

The Asian Development Bank’s (ADB) Board of Directors has approved a $300 million policy-based loan to help improve economic management in Uzbekistan, which will help support macroeconomic stability and sustain high growth in the country.

This week, Mr. Guangzhe Chen, World Bank’s Senior Director for the Water Global Practice, paid a two-day visit to Uzbekistan to deepen cooperation with the Government in support of water resource management. His visit also included a review of the existing portfolio of projects supported by the World Bank in Uzbekistan designed to improve coverage and quality of water supply and sanitation services, as well as irrigation efficiency.

The world’s first ever international Uzbek Soum- denominated bonds were today listed in the Main Market of the London Stock Exchange. The landmark bond issuance from IFC, a member of the World Bank Group, paves the way for the opening of the global Samarkand bond market to support financing of companies from Uzbekistan while raising the profile of the Uzbek Soum internationally.

A syndicated loan of up to USD 20 million to Ipak Yuli Bank comprising an A Loan of up to USD 10 million to be provided by the EBRD and a B Loan for up to USD 10 million to be attracted on a best effort basis. If successful, this will be the first syndicated loan arranged by the Bank in Uzbekistan in the Financial Institutions sector. The loan will be accompanied by Technical Cooperation (TC) funds.

The Asian Development Bank’s (ADB) Trade Finance Program (TFP) held its second TFP Bank Twinning program in Central Asia between Ameriabank from Armenia and Hamkorbank from Uzbekistan.

The Asian Development Bank’s (ADB) Board of Directors has approved US$198 million in additional financing to scale up its support in enhancing horticulture value chain development in all 12 regions in Uzbekistan as well as in the autonomous region of the Republic of Karakalpakstan.

The new version of Uzbekistan’s Central Bank Bill has been prepared in Uzbekistan. The document said that the Central Bank is a legal entity and is in the exclusive ownership of the state.

The European Bank for Reconstruction and Development has no plans to restart lending in Russia, but is upbeat on Central Asia following Uzbekistan’s move to implement long-delayed market reforms, its president told Reuters.

The World Bank forecasts global economic growth to edge up to 3.1 percent in 2018 after a much stronger-than-expected 2017, as the recovery in investment, manufacturing, and trade continues, and as commodity-exporting developing economies benefit from firming commodity prices, the World Bank's GLobal Economic Prospects said.

The Asian Development Bank’s (ADB) Board of Directors has approved a US$145 million loan to help improve water supply and sanitation services in the Republic of Karakalpakstan (RK), an autonomous republic in northwestern Uzbekistan. The project will benefit about 388,000 residents, half of whom are women and girls.

Uzbek Deputy PM/ Finance Minister, Jamshid Kuchkarov held talks with a group of Gazprombank officials Tuesday, the ministry said in a statement.

IFC, a member of the World Bank Group, has signed a mandate with the government of Uzbekistan to increase its renewable power capacity and encourage private sector investment in Uzbekistan’s renewable-energy sector.

World Bank Group President Jim Yong Kim met with Uzbek President Shavkat Mirziyoyev today to discuss Uzbekistan’s social and economic transformation and to reaffirm the World Bank Group’s support for reforms to accelerate economic growth and boost shared prosperity. The meeting in Washington, DC took place on the margins of Mirziyovev’s first official visit to the United States.

Mr. Tao Zhang, Deputy Managing Director for the International Monetary Fund (IMF), visited Tashkent on 12-14 May 2018.