On August 15, the National Bank for foreign economic activity of the Republic of Uzbekistan held a press conference. It was attended by representatives of the media, members of the NBU and representatives of the Fund for support of export of small business and private entrepreneurship.
Particular attention at the meeting was paid to the role of the NBU in expanding international cooperation in the country. In particular, if in 1992 the NBU had correspondent relationships with 83 major banks of the world, over 25 years of independence of the republic, exactly as of July 1, the bank’s correspondent network covers some 683 international financial institutions in over 80 countries around the world.
Over the years of independence, the National Bank has attracted numerous credit lines of the Asian Development Bank, International Finance Corporation, Japan Bank for International Cooperation, German Bank, KSE, OPEC Fund, Korea Eximbank, China Eximbank, the State Development Bank of China and other international and foreign financial institutions.
In addition, the press-conference thoroughly discussed the bank’s participation in the implementation of the economic policy of the country, programs of modernization, technical and technological renewal of economic sectors, localization, etc.
In particular, as on July 1, the bank’s assets amounted to 18 trillion soums, having increased compared to the same period last year by 33%, the credit portfolio of the bank amounted to 11 trillion soums. In comparison with the same period last year, this figure increased by 26%. 91% of the loan portfolio of the bank accounts for long-term investment loans.
The press-conference marked the bank’s activity in the sphere of support towards small business and private entrepreneurship entities. During 2015 the bank issued loans worth 1.8 trillion soums in this sphere, in the first half of 2016 this figure has already reached 1.3 trillion soums. More than 5 thousand new jobs were created due to these funds.
The Fund for support of exports of small businesses and private entrepreneurship, organized in accordance with presidential decree has been active in promoting their goods and services to foreign markets.
In the first half of this year, the fund provided legal, financial and organizational services to 1646 businesses to promote their goods and services to foreign markets. As a result, export contracts totaling $1.32 billion have been signed. 379 businesses made export totaling $643 million. Compared to the previous year, the number of entrepreneurs that received support from the fund has increased by 164, whereby the volume of exports carried out with the assistance of the fund has increased by 26% or $131 million. (Uzreport/Business World Magazine)