S&P Global Ratings affirmed its ‘BB-/B’ long- and short-term issuer credit ratings on Uzbekistan-based KDB Bank Uzbekistan JSC (KDB Uzbekistan). The outlook remains stable.
In January-December 2019, 189.92 trillion soums of investments in fixed assets were disbursed in Uzbekistan, of which 70.7% or 134.33 trillion soums were financed from borrowed funds, and the remaining 29.3% or 55.59 trillion soums were financed from the own funds of enterprises and the population, according to the Uzbek State Statistics Committee said in a report.
he Central Bank has prepared preliminary indicators for the current account of the balance of payments for 2019.
On 21 January, employees of the Ministry of Finance and the Information and Computing Center of the Ministry of Finance held a seminar for students of the Banking and Finance Academy of the Republic of Uzbekistan on new projects implemented in information systems.
On 20 January 2020, the Banking Supervision Committee of the Central Bank of the Republic of Uzbekistan decided to issue preliminary permission to create a bank by TBC Bank Group PLC to open a joint-stock commercial bank TBC Bank in Tashkent.
World Bank Vice President for Europe and Central Asia, Cyril Muller, welcomed the Government of Uzbekistan’s progress in transforming the economy and pledged the institution’s continued support for further reforms. Visiting Tashkent on January 16-17, he met with President Shavkat Mirziyoyev and senior government and parliamentary officials.
On 17 January, Deputy Prime Minister and Finance Minister Jamshid Kuchkarov had a meeting with World Bank Vice President Cyril Muller at the Ministry of Finance.
André Küüsvek has been appointed as EBRD Managing Director for Central Asia. He will be responsible for one of the most geographically diverse regions of the Bank’s operations, where the EBRD has invested US$ 15.6 billion (€14 billion).