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First issue of Eurobonds in national currency to have impact on Uzbekistan's dev’t - JP Morgan

Uzbekistan Materials 3 May 2021 14:03 (UTC +04:00)
First issue of Eurobonds in national currency to have impact on Uzbekistan's dev’t - JP Morgan

BAKU, Azerbaijan, May 3

By Klavdiya Romakayeva - Trend:

JP Morgan Development Finance Institution (JP Morgan DFI) noted the first issue of Uzbekistan's Eurobonds in national currency as an international transaction with a ‘high level’ of impact on the development of the country, Trend reports citing JP Morgan.

On April 27, the JP Morgan Development Finance Institution (JP Morgan DFI) published a report on the results of 2020.

According to the information, JP Morgan’s report indicates the first issue of international bonds of Uzbekistan in national currency, issued on November 19, 2020, with the status of Development Finance Qualification.

Based on the analysis results, it is marked as an international transaction with a “high level” of impact on development.

It is noted that JP Morgan is a consultant on structuring development in the mentioned issue.

It is reported that funds in the amount of two trillion soums ($190 million) received from international bonds are planned to be directed to projects that serve to achieve the Sustainable Development Goals of Uzbekistan, in particular, a widespread reduction in the level of poverty of the population, provision of a healthy lifestyle, quality education, and gender equality, conservation of water resources, assistance sustainable and inclusive economic growth through increased productive employment; and resilient infrastructure.

The annual report on the results of the development projects selected in cooperation with JP Morgan DFI will be posted on the website of the Ministry of Finance and presented to international investors and the public in order to improve the efficiency and transparency of the use of borrowed funds.

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Follow the author on Twitter: @romakayeva

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