Tashkent, Uzbekistan (UzDaily.com) -- On 21 May 2024, Uzbekistan for the first time placed sovereign international bonds worth about US$1.5 billion in three currencies. This was announced by the Ministry of Economy and Finance.

On 17 May, a video conference (Global Investor Call) was held with the participation of 76 investors from countries such as the USA, Great Britain, Germany, Denmark and the United Arab Emirates. During the period from May 20 to 21, individual meetings were held with 40 major investors.

At these meetings, international investors were provided with detailed information on structural reforms and the macroeconomic situation in Uzbekistan under the leadership of the President of the Republic as part of the Uzbekistan-2030 strategy.

International investors positively assessed the fact that Uzbekistan maintains macroeconomic stability and accelerates energy tariffs, privatization processes and other structural reforms, despite the difficult situation in the world.

As a result of the meetings on 21 May, it was announced that orders were placed for sovereign international bonds of the Republic of Uzbekistan in three currencies, including 7-year in US dollars and 3-year in euro to finance the Sustainable Development Goals.

During the day, applications were received for the purchase of sovereign Eurobonds of Uzbekistan for a total amount of US$5.5 billion, including:

- US$3 billion for 7-year dollar bonds;
- 2 billion euros for 3-year bonds in euros;
- 4 trillion soums for 3-year bonds in national currency.

As a result, the coupon rate on 7-year bonds worth US$600 million was 6.9%, on 3-year bonds worth 600 million euros - 5.375%, and on 3-year bonds worth 3 trillion soums - 16.625%.

It should be noted that sovereign international bonds in euros were issued within the framework of the Sustainable Development Goals (SDGs) program of the Republic of Uzbekistan, developed to finance the SDGs of Uzbekistan. The program provides for the preparation and publication of reports on the distribution of funds and the impact of projects on sustainable development goals.

The funds received from the placement of international bonds will be used to cover the state budget deficit and finance sustainable development goals.