TASHKENT, Uzbekistan, December 20. Uzbekistan's banking sector is set to attract $6 billion in 2025 to finance investment projects without the need for state guarantees from foreign governments, Trend reports.
The news follows a video conference call and dialogue with entrepreneurs under the chairmanship of the president of Uzbekistan.
By the end of this year, the total volume of allocated loans is expected to reach 275 trillion soums ($21.2 billion), with projections indicating this amount will surpass 300 trillion soums in 2025 ($23.2 billion). A major focus is the expansion of loans to small businesses, with their share in total lending rising from 28 percent to 40 percent, amounting to 120 trillion soums ($9.2 billion).
In recent years, Uzbekistan has seen significant growth in its money supply, creating a solid foundation for sustainable investment funding. Funds held by businesses in banks have increased by 20 trillion soums ($1.5 billion), reaching a total of 107 trillion soums ($8.2 billion). Additionally, savings by the population have totaled 105 trillion soums ($8.1 billion).
Meanwhile, the deposits of Uzbekistan's commercial banks amounted to 295.9 trillion soums ($23.1 billion) as of November 1. The deposits of state-owned banks in Uzbekistan accounted for 148.6 trillion soums ($11.6 billion) during this period, and other banks' deposits reached 147.2 trillion soums ($11.5 billion).