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    Business of Uzbekistan received $ 7.4 billion from foreign loans within 3.5 years

    Finance 20 August 2021 219

    Due to foreign credit lines, the business of Uzbekistan received loans from commercial banks for $ 7.4 billion in 3.5 years. This was announced by the Central Bank in its review.

    The largest loans for this period, Uzbek entrepreneurs received last year which equals $ 2.95 billion. In the first half of this year, the total amount of loans was slightly higher, amounting to $ 1 billion.

    On average, $ 540 million worth of loans were issued annually against the guarantee of the state. But the share of such loans in the total volume of lending is decreasing every year. If in 2018 there were 44% of such loans, then in 2019 the figure dropped to 26%, and last year to 16%. The reduction is not due to a decrease in the volume of lending, but due to the growth of the segment of loans issued without guarantees of the Republic of Uzbekistan.

    For 3.5 years, most of the funds (59%) were allocated to the industry. This is followed by agriculture (22%), services (14%), transport (3%) and construction (2%).