Tashkent, Uzbekistan (UzDaily.com) — The net profit of the Uzbekistan Reconstruction and Development Fund (URDF) for 2024 amounted to 17.9 trillion soums (approximately US$1.4 billion at the average annual exchange rate), significantly lower than the 2023 figure of 29.5 trillion soums (around US$2.4 billion). This information comes from the fund’s audited report prepared according to national accounting standards (NAS).

The profit decline is primarily attributed to a drop in income from financial activities, which fell from 36.6 trillion to 25.6 trillion soums. A key factor was the decrease in foreign exchange gains, which fell from 29.4 trillion to 17.4 trillion soums. At the same time, the fund’s interest income increased from 6.2 trillion to 7.1 trillion soums. Expenses related to financial activities also rose, from 7.1 trillion to 7.7 trillion soums.

According to the report, accounts receivable reached 85.2 trillion soums at the end of 2024, marking a 10.7% year-on-year increase. Long-term investments of the fund grew by nearly 60%, totaling 58.9 trillion soums.

During the reporting period, the URDF also extended long-term loans to several major companies, including Uzbekneftegaz JSC — for 1.3 trillion soums, and Alokabank — for 709.8 billion soums.