Microfinance development programme, a component of the market reform policies in Uzbekistan, is designed to improve living standards. Its main objective is to provide assistance to the broad population groups by supporting private entrepreneurship through transforming crediting into a more effective instrument. The national government is making a significant contribution in facilitating development and strengthening microfinance in Uzbekistan.
On 25 May, a round table on the subject: "Ways of auditing activity improvement and enhancing responsibility of auditing companies and auditors" was held at the conference hall of the Dedeman Silk Road Hotel.
Uzpromstroybank’s shareholders adopted decision to increase charter capital of the bank by 2.7 times to 50 billion soums, Uzbekistan Today reported.
Pakhta Bank, one of the largest Uzbek Bank, started to connect regional branches and mini-banks with wireless network, Uzbekistan Today reported.
The Fund for Reconstruction and Development of the Republic of Uzbekistan has signed an agreement with the Czech Export Bank on the support and development of the investment and financial cooperation between the two countries.
Uzpromstroybank (Uzbek industrial construction bank) in the first quarter of 2007 directed 22.9 billion soums to support entrepreneurship activity, including 8 billion soums allocated to investment projects and 1.2 billion soums to microloans.
In Uzbekistan a large-scale work is under way oÂn comprehensive protection and support of the business people and all opportunities have been created for their full-fledged operations.
The National Bank of Uzbekistan for Foreign Economic Activities (NBU) was given Special Recognition Award for its project "Micro-lending facility for farmers and rural enterprises" during the Awards Nights of the 30th ADFIAP annual meetings in Hanoi, Vietnam, on 9-12 May.
Nominal money incomes of the Uzbek population increased by 29.3% in the first quarter 2007 as compared to the first quarter 2006 and amounted to 3.45 trillion soums, money expenditures and savings - by 34.4% and 3.5 trillion soums respectively.
About 967.2 billion soums of investments were used to increase fixed capital of the Republic of Uzbekistan in January-March 2007, or 136.4% compared to January-March 2006, according to the State Statistics Committee.