The share of non-performing loans (NPLs) in Uzbek banks’ portfolios has tripled. As of January 1, it stood at 2.1%, while as of August 1 it had grown to 6.2%, Abrorhuja Turdialiev, deputy chair of Uzbekistan’s Central Bank, reported. “This has happened following the rapid growth of the loan portfolio in the previous three years.…
World Bank’s (WB) investment portfolio in Uzbekistan includes 26 projects with a total value of $4.8 billion. The information was unveiled during negotiations between Uzbek Preisent Shavkat Mirziyoyev and WB Vice President Anna Bjerde on September 30. Since May, WB has approved the provision of preferential loans in the amount of $540 million for the…
The European Bank for Reconstruction and Development (EBRD) and the International Finance Corporation (IFC) plan to acquire up to 20% each in TBC Bank Uzbekistan (TBC UZ), a subsidiary of TBC Bank Group. The investments are aimed at strengthening digital finance in Uzbekistan and, thereby, increasing financial inclusion in the country. The first installment is…
Uzbekistan’s Energy Ministry and the Uzatom Agency have reached an agreement with the Hungarian delegation on sending Uzbek specialists to the construction sites of the PAKS-2 nuclear power plant NPP. The parties came to a mutual opinion that detailed monitoring of the work at the NPP in Hungary would be very useful for Uzbek specialists.…
The director of Uzbekistan’s Anti-Corruption Agency Akmal Burkhanov announced the statistics of detected corruption crimes for the past year and the first half of 2021, committed by officials of various levels. According to him, a total of 1,723 officials were brought to criminal responsibility in 2020. The damage from corruption amounted to $46.8 million, 71%…
Uzbekistan’s total external debt in the first six months of 2021 amounted to $35.9 billion (57% against GDP), according to the data unveiled by the Central Bank on September 24. Since the beginning of the year, the indicator has expanded by 6% or by $2 billion. External debt includes public and private debt. The first…
Uzbekistan exported $1 billion worth of cotton yarn during the first eight months of 2021, against $559.1 million in 2020. Cotton yarn accounted for 55.8% of the total textile export. The country exported $430.7 million worth ready-made knitwear and sewing products and $158.8 million worth of knitted fabric. The share of other items, including carpets,…