The EBRD is providing a US$4.6 million loan to support the expansion of the Uzbek PET producer Tarleplast. Because of increasing demand for its products the company is planning to install two additional production lines and to procure the raw material for its production directly from suppliers.
Eastern Europe and Central Asia are not immune to the turbulence of the ongoing global financial crisis, with most countries in the Region likely to experience slower economic growth, World Bank officials warned on 10 October.
The Eurasian Development Bank (EADB), created at the initiative of Russia and Kazakhstan, has received an observer status at the Eurasian Economic Community (EurAsEC), Tajikistani President Emomali Rakhmon said after the EurAsEC Interstate Council’s meeting on Friday.
On 7 October, 2008 the World Bank Uzbekistan Country Office had joint World Bank and Asian Development Bank country project portfolio review (CPPR).
On 8 October 200, the World Bank and the Government of Uzbekistan signed a US$67.96 million IDA credit for the second phase of Uzbekistan Rural Enterprise Support Project (RESP-II).
Central Bank of Uzbekistan issued licenses to carry out activities of microfinance organization and pawn-shop to two organizations in Tashkent.
A two-day regional conference “Microfinance in Central Asia: Today and Tomorrow” was held on 17-18 Septembe in Astana, the capital of Kazakhstan. The conference was organized by the Business Development Foundation DAMU, Association of Kazakhstan Microfinance Association (AMFOK), and the US Agency for International Development project “Central Asian Microfinance Alliance” (CAMFA).
Central Bank of Uzbekistan registered two new credit unions in line with the article 17 of the Law “On Central Bank” and article 4 of the Law “On credit unions”.
The EBRD is supporting the expansion of the leading privately-owned Uzbek pharmaceutical company Jurabek Laboratories with a US$3.65 million financing package. The funds will be used for the acquisition of equipment for the production of various types of intravenous infusions and their packaging into modern polypropylene vials.
IFC, a member of the World Bank Group, has signed a loan agreement with the Kyrgyz Investment and Credit Bank to expand its micro, small, and medium enterprise lending operations in less developed areas of the Kyrgyz Republic. IFC’s US$5 million loan will also finance projects in agriculture sector.