The Islamic Development Bank (IDB) has approved the allocation of a loan worth US$52.65 million to Uzbekistan for restoring the irritation network and drainage system of Syrdaryo and Jizzakh regions.
The European Bank for Reconstruction and Development (EBRD) issued US$3 million to Uzbek Leasing International to support small and medium-sized businesses of Uzbekistan. The sides signed a corresponding agreement on 25 December.
A mission of the International Monetary Fund (IMF) visited Tashkent during December 8-19, 2008. The mission was headed by Ms. Sena Eken, assistant director in the Middle East and Central Asia Department of the IMF.
The Board of Executive Directors of the Islamic Development Bank (IDB) approved financing of project in Uzbekistan. The project is part of IDB’s 2009 operational plan to finance various development projects.
Islamic banks are the least affected by the current global financial crisis triggered by subprime tsunami in the United States, the CEO & general manager of Islamic Corporation for the Development of the Private Sector (ICD) said.
IFC, a member of the World Bank Group, is reinforcing its work with credit bureaus to help lenders identify and avoid client over-indebtedness. As part of its response to the global financial crisis and support of financial markets, IFC launched an initiative in 2008 to develop legislation related to sharing credit information in Azerbaijan and Central Asia.
The Eurasian Group on Combating Money Laundering and Financing of Terrorism (EAG) has granted observer-member status to the Asian Development Bank (ADB).
Irrigation and drainage will be upgraded and rehabilitated to improve agricultural productivity under a US$100 million loan granted to the Government of Uzbekistan by the Asian Development Bank (ADB).