Wednesday, 27, May, 2020

Finances

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.

Uzbekistan banks on the evening of April 14 raised the USD to UZS exchange rate to over 10 thousand soums. If earlier in the day, banks were buying USD at 9750–9840 soums range and were selling for 9850 soums, then by 8-00 PM most banks increased the rates to 10,050 and 10,150 soums, respectively.