Uzbekistan allocates nearly $920M to banks out of funds from sovereign bonds placement

Business Materials 3 April 2019 12:44 (UTC +04:00)

Baku, Azerbaijan, April 3

By Fakhri Vakilov – Trend:

Banks and the Navoi Mining and Metallurgical Complex in Uzbekistan will receive funds from the placement of sovereign international bonds of Uzbekistan, Trend reports with reference to the data from Uzbek Ministry of Justice.

Under the presidential decree, these funds will be used as follows:

- $889.2 million will be placed by auction on deposit accounts of commercial banks;

- $20 million will be issued as debt of Agrobank;

- $89.9 million will be issued as a loan to the Navoi Mining and Metallurgical Complex.

In February 2019, five- and ten-year sovereign international bonds of Uzbekistan worth $1 billion were placed on world financial markets.


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