National Venture Fund is being created in Uzbekistan
On November 3, 2020, the Cabinet of Ministers adopted a Resolution “On measures to organize the activities of the National Venture Fund “UzVC”” No.ПКМ-684.
Fitch Ratings assigned “BB- (EXP)” rating to debut Eurobonds of Ipoteka-Bank
Fitch Ratings has assigned an expected Long-term rating of 'BB- (EXP)' to the upcoming issue of Ipoteka-Bank's senior unsecured US dollar-denominated Eurobonds.
Licensing procedure for credit bureaus changed in Uzbekistan
The Resolution of the Board of the Central Bank, registered under No.3042-2 dated November 6, 2020 amended the Regulation “On the procedure for registration and licensing of credit bureaus” (the “Regulation”).
In Uzbekistan a Presidential Decree on reforming enterprises with State participation and the privatization of State assets has been adopted
In the framework of the Presidential Decree No.УП-6096 “On measures to accelerate the reform of enterprises with the State participation and the privatization of state assets” dated October 28, 2020 (the “Decree No.УП-6096”), the following lists were approved
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.