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Uzbek national bank reveals loans for entrepreneurship support in 2021

Finance Materials 10 February 2021 10:00
Uzbek national bank reveals loans for entrepreneurship support in 2021

BAKU, Azerbaijan, Feb. 10

By Klavdiya Romakayeva - Trend:

National Bank for Foreign Economic Affairs of Uzbekistan (NBU) will provide loans for 16.5 trillion soums ($1.6 billion) for 540 projects in order to develop the economy and support entrepreneurship in 2021, Trend reports referring to the press service of the NBU.

According to the information, the NBU allocated 12.9 trillion soums ($1.2 billion) for financial support of enterprises in 2020. In particular, 5.3 trillion soums ($505,088) were directed to replenish working capital, and 7.6 trillion soums ($724,277) - to investment projects.

At the same time, the total amount of loans allocated for large investment projects provided in 2020 amounted to 6.6 trillion soums ($628,977).

It is reported that in accordance with the investment program to attract external credit lines, it was planned to attract foreign loans for $635 million. In fact, $706.7 million was attracted in 2020, exceeding the plan by 11.3 percent.

Also, Eurobonds in the amount of $300 million were placed on the London Stock Exchange in October 2020 in order to diversify the sources of borrowed funds and attract long-term and relatively inexpensive resources from the international capital market.

NBU noted that by the end of 2021 it is planned to increase the total assets of the bank to 91.7 trillion soums ($8.7 billion), the bank's loan portfolio - to 77.1 trillion soums ($7.3 billion), and the total balance on deposits of legal entities and individuals - to 17.8 trillion soums ($1.7 bilion).

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