The World Bank’s Board of Executive Directors has approved a $100 million loan and a $5 million grant for Uzbekistan to implement the Access to Finance for Jobs and Growth Project (FINGROW). It will expand access to credit and private equity financing for capital-constrained micro, small, and medium enterprises (MSMEs). In Uzbekistan, MSMEs account for over
The Eurasian Development Bank (EDB) has released a new report as part of its flagship project Monitoring of Mutual Investments. New data show that investment activity in the Eurasian region continues to expand despite the global decline in foreign direct investment (FDI). Mutual FDI between the region’s countries reached a record US $48.4 billion at the
On December 16, under the chairmanship of President Shavkat Mirziyoyev, a meeting was held dedicated to the comprehensive socio-economic development of Tashkent, improving the urban environment, and creating decent living conditions for its population. It was noted that Tashkent has undergone significant changes in recent years. Over the past nine years, more than $20 billion
Kazakhstan has opened two modernized motor vehicle checkpoints—Kazygurt on the border with Uzbekistan and Temir-baba on the border with Turkmenistan—in an effort to boost trade and cargo transportation in the region, primeminister.kz reported. The checkpoints were reconstructed as part of the state program to modernize border infrastructure. The program covers nine checkpoints located on Kazakhstan’s
The World Bank’s Board of Executive Directors has approved a $250 million financing package for Uzbekistan to improve municipal infrastructure and services for residents and businesses in 16 districts and cities across the country through the Livable and Productive Cities Program (LPCP). Over half of Uzbekistan’s 37 million people live in cities, a share expected to
On December 15, President Shavkat Mirziyoyev was briefed on the ongoing work in the water management sector to increase energy efficiency, develop research potential, and strengthen international cooperation. Plans to replace outdated and energy-intensive pumping units with modern, energy-efficient ones, were reviewed. For instance, in Karakalpakstan, there are 274 pumping stations that irrigate over 185
The project board meeting of the United Nations Development Programme (UNDP) project “Enhancing the resilience of the local population and promoting green, inclusive development of the most vulnerable communities in the Aral Sea region” convened last week in Tashkent in partnership with the Ministry of Agriculture of Uzbekistan and the Council of Ministers of the Republic
On December 12, President of Uzbekistan Shavkat Mirziyoyev participated in an International Forum in Ashgabat dedicated to the 30th anniversary of the proclamation of Turkmenistan’s permanent neutrality, the International Day of Neutrality, and the declaration of 2025 as the “International Year of Peace and Trust”. The event, chaired by President of Turkmenistan Serdar Berdimuhamedov, was
The World Bank’s Board of Executive Directors has approved a $250 million loan for Uzbekistan to support a program aimed at expanding equitable access to student financing in higher education and in technical and vocational education and training (TVET) (the EduImkon Program). Over the next three years, this program will help strengthen the student financing support
On December 10, the United States celebrated the handover of its 16th shipment of food assistance to Uzbekistan, continuing long-standing cooperation in health and humanitarian support, the U.S. Embassy in Tashkent said. The latest delivery includes 131 metric tons of vitamin- and mineral-fortified lentil and vegetable mix valued at $448,000 and is set to benefit
The European Union has disbursed a EUR 7 million grant to the Government of Uzbekistan in support of the continued implementation of the country’s Agricultural Development Strategy 2020–2030. The announcement was made by EU Ambassador to Uzbekistan Toivo Klaar during his meeting with the Minister of Agriculture, Ibrokhim Abdurakhmonov. The meeting provided an opportunity to
The European Bank for Reconstruction and Development (EBRD) says it is extending a loan of up to US$ 70 million (€60 million) to Hamkorbank, a major private lender in Uzbekistan. Provided in the synthetic local currency, the loan will be used to support micro, small and medium-sized enterprises (MSMEs) across the country. MSMEs create about
Great Britain’s Kurash wrestlers produced some fine performances at the Paris International Tournament, achieving a gold and a bronze medal. This prestigious event, held in honour of the birthday of the President of Uzbekistan, Shavkat Mirziyoyev, took place under the embracing shadow of the historic Eiffel Tower. The iconic tower was beautifully lit for the
The European Bank for Reconstruction and Development (EBRD) says it is extending a financing facility of up to US$ 50 million (€43 million) to Ipak Yuli Bank to support micro, small and medium-sized enterprises (MSMEs) in Uzbekistan, improving access to green finance and stimulating green innovation. The package consists of two complementary components designed to
On December 9, President Shavkat Mirziyoyev reviewed plans on financing for cotton and grain cultivation, as well as a new subsidy system for the agriculture sector. A total of 34.2 trillion soums is planned for the cotton and grain cultivation, subsidies and other expenses next year. Additionally, there are plans to attract an extra $200
SOCAR (State Oil Company of the Azerbaijan Republic) and Uzbekneftegaz, Uzbekistan’s oil and gas company have launched a joint exploration project in the Ustyurt region in Uzbekistan’s Karakalpakstan. The Production Sharing Agreement (PSA) for the exploration, development, and production in the Ustyurt investment blocks (Boyterak, Terenqquduq, Birgori, Kharoy, Korakalpok, and Kulboy) was signed in July
Governments of five Central Asian countries could raise GDP per capita by 6 to 14 percent above projected levels by 2050 by increasing investments in children’s health, education, and development, according to a new report released by UNICEF, the United Nations Children’s Fund. According to “Generation 2050 in Central Asia,” the Central Asian region has
The Anti-Corruption Agency of Uzbekistan on December 3 hosted the presentation of the National Integrity System Assessment (NISA) of Uzbekistan — a comprehensive study evaluating the country’s anti-corruption framework and its alignment with international standards. The event gathered over 80 participants, including senior representatives of the Government of Uzbekistan, such as the Ministry of Justice, General Prosecutor’s Office, Supreme Court
On December 5, President of Uzbekistan Shavkat Mirziyoyev took part in a ceremony marking the launch and start of construction of new energy capacities and infrastructure facilities. By pressing a symbolic button, the President launched the operation of 42 energy facilities and the construction of 21 new projects. The event was attended by Minister of
On December 5, President of Uzbekistan Shavkat Mirziyoyev held a meeting with the heads of leading Chinese companies to discuss expanding cooperation and advancing joint projects aimed at introducing modern technologies and engineering solutions in the energy sector. The growing interest of Chinese companies in implementing projects in Uzbekistan was noted with satisfaction. This year
