Tashkent, Uzbekistan (UzDaily.com) -- On 28 September this year, a meeting was held between representatives of Uzbekneftegaz JSC and Societe Generale (France).

The management of the bank expressed support for the ongoing socio-economic reforms in the Republic of Uzbekistan, as well as the transformational changes being implemented in Uzbekneftegaz JSC.

The parties discussed the current market situation, including debt capital markets, as well as the impact of the geopolitical situation on interest rates, emphasized the timeliness and success of the debut placement of Eurobonds of Uzbekneftegaz JSC in the amount of US$700 million for a period of 7 years in November last year.

At the same time, representatives of Societe Generale noted their readiness to expand current cooperation and provided information on the possibility of providing consulting services to update the credit rating and obtain an ESG rating.

Taking into account the current high volatility, the experts stressed the importance of a detailed study of global market trends and the use of a balanced approach when making a decision on attracting financing.

Additionally, the specialists of Uzbekneftegaz JSC informed about the ongoing activities to achieve the goals of sustainable development and corporate reform within the framework of the ESG agenda, as well as ongoing active work with consultants to reduce the impact of risks on the company's activities.

In turn, Societe Generale representatives recommended continuing the steps taken to improve the corporate culture, introduce ESG reporting, systematize the release of financial statements, and optimize the debt portfolio.

Societe Generale is a French financial conglomerate, one of the largest banks in France, one of the world's top 20 in terms of assets.