ADB approved USD 200 million loan to improve power sector in Uzbekistan
On 28 September the Asian Development Bank (ADB) approved a USD 200 million policy-based loan to Uzbekistan. The loan will be used for strengthening Uzbekistan’s power sector by improving its financial sustainability and ensuring adequate investment in critical infrastructure. This policy-based loan became the first of its kind in Uzbekistan’s energy sector.
The list of offshore zones has been updated in Uzbekistan
In accordance with the additions to Regulation “On the procedure for monitoring the validity of the conduct of foreign exchange transactions by legal entities and individuals” (Appendix to the Resolution No.2467 dated June 12, 2013) (the “Regulation”), the changes were made.
Amendments and additions have been made to the Clearing System of Central Bank of Uzbekistan
By the Resolution of the Board of the Central Bank No. 2570-1 dated September 28, 2020, the following adjustments were made.
The World Bank maintains a positive outlook for the economy of Uzbekistan
On October 7 this year, the World Bank published a new regional economic review. According to this review, Uzbekistan will be one of only two countries in the Europe and Central Asia region that will demonstrate economic growth in 2020.
Fitch maintains Uzbekistan's credit rating at BB-
The international rating agency Fitch Ratings (the “Agency”) has released a regular report on the sovereign credit rating of Uzbekistan. According to the report, Uzbekistan's sovereign credit rating remained unchanged at BB- (stable).
A new edition of the Law of the Republic of Uzbekistan “On public procurement” has been drafted
The Ministry of Finance of Uzbekistan, together with specialists from relevant ministries and departments, has developed a new edition of the Law of the Republic of Uzbekistan “On public procurement” (“Draft law”). Asian Development Bank and the World Bank also took an active part in the development of the Draft law.