The Asian Development Bank (ADB) will support the Government of Uzbekistan to reform public finance management through its US$20.7 million loan.
On 14 June, 2007 the European Trust Bank signed an agreement with the National Bank of Uzbekistan for Foreign Economic Activity on accession to Migom money transfer system, which heralds the start of cooperation in cash remittance and receipt, the press-centre of the European Trust Bank said.
The World Bank Board of Executive Directors today discussed the Joint Country Support Strategy for the Kyrgyz Republic. It presents a core strategy of five development partners to support the Kyrgyz development agenda for the period 2007-2010.
The Executive Directors of the International Bank for Reconstruction and Development (the “Bank”) met on Monday, 25 June, to select a new President of the Bank. In doing so, the Executive Directors expressed appreciation to Mr. Paul Wolfowitz as departing President of the World Bank Group.
In the first quarter of this year, guest workers in Russia sent over US$1.2 billion through different international money transfer systems to the countries of CIS. Most money is sent to Ukraine - US$220 million, followed by Tajikistan - US$198 million, Uzbekistan - US$178 million, Armenia - US$133 million, Azerbaijan - US$115 million, Moldavia - US$114 million, and Georgia - US$102 million.
Credit Unions Association has held talks with the management of Umid, Inom, Mador, Invest Credit, Shark Yulduzi, Hazina, Finance Plus, Imkon, Oltin Vodiy, and Capital Union credit unions.
Russia’s VTB Bank (Foreign Trade Bank) intends to invest up to US$1.5 billion by mid-2008 in acquiring banks in the Commonwealth of Independent States (CIS) and increasing the capital of its subsidiary banks in the CIS, VTB Bank President Andrei Kostin said attending an international banking conference on Friday.
A wide range of economic reforms being carried out by the state in Uzbekistan continuously evoke the interest and cause hot debates among large business corporations and financial institutions all over the globe.