OREANDA-NEWS. February 04, 2011. The National Bank of Uzbekistan (NBU) carries out a huge work on financing projects using credit lines of foreign banks and international financial institutions, off-budget funds of the country and own funds.

The bank seeks to expand the boundaries and create a stable basis for the increase of the flow of foreign investments to give an additional impulse to economic development on the up-to-date technological base.

Thus, the bank approved 253 projects worth a total of USD 591.3 million. In particular, the bank financed seven projects worth USD 13.9 million using the credit line of Islamic Development Bank (IDB) and 112 projects worth USD 45.99 million due to funds of China State Development Bank. 

The support of the small business encompasses a wide range of economic branches: light industry, food industry, construction materials production, agriculture, chemical industry, services, etc. All credits are extended for the purchase of newest equipment and technologies to increase the product's competitiveness.

Many projects financed by banks fostered the decrease of imported goods and increase of exports, encouraging the achievement of positive foreign trade balance.

The bank used own funds to finance four projects worth USD 11.84 million , such as the purchase of new equipment for Samarkand Paranda poultry farm, fruit and vegetable processing equipment modernization at Afromiyob Meva, re-equipment and modernization at Merganteks Ltd.

Moreover, the bank is carrying out credit activity in national currency. In 2010 the bank extended loans in national currency worth a total of 355 billion soums. Additionally the bank extended 6.2 billion soums within the framework in pursuance of the Resolution of the President under No.308 dated 23.03.2006 to increase the number of livestock in dehkans and farms.

Dynamically developing, the National Bank of Uzbekistan became an active guide of changes carried out in our country and achieved the reputation of a professional financial institution and a reliable partner for its clients.