TASHKENT, Uzbekistan, December 20. Uzbekistan plans to place Eurobonds worth $500 million in 2024 on international capital markets, Trend reports.
The news followed a meeting between Uzbekistan’s President Shavkat Mirziyoyev and the officials of the Uzbek government.
During the meeting, the officials discussed the development of the country’s financial sector, which is expected to grow by 20 percent in 2024.
In an effort to bolster the industry, new entities such as a Business Development Bank and an Entrepreneurship Development Company have been established, and microfinance institutions have been authorized to offer fundamental banking services.
Earlier this year, Uzbekistan has placed Eurobonds worth $660 million and the first green Eurobonds worth 4.25 trillion Uzbek soums ($349.17 million) on the London Stock Exchange.
Uzbekistan’s Ministry of Economy and Finance noted that the proceeds from the green bonds will be used to finance green projects, such as the introduction of water-saving technologies, the development of rail transport and metro, the organization of sanitary cleaning and maintenance of cleanliness in settlements, as well as the creation of protective forest plantations against wind erosion and siltation of water bodies.