Uzbekistan’s Banks To Raise $6 Billion Without State Guarantees in 2025
Uzbekistan’s Banking Sector Aims to Attract $6 Billion in Foreign Funds by 2025
Uzbekistan’s banking sector is on track to achieve significant milestones in 2025, with plans to attract $6 billion in foreign funds without state guarantees. This reflects a growing confidence in the nation’s financial system and its ability to attract international investment.
In a video conference led by President Shavkat Mirziyoyev, the progress of entrepreneurial support in 2023 and strategic plans for 2025 were reviewed. The meeting highlighted the active involvement of leading entrepreneurs in driving the country’s economic growth.
One key development in Uzbekistan’s banking sector is the notable increase in liquidity, which has created a robust foundation for stable investment project financing. Some key developments in the sector include:
– Enterprise funds held by enterprises in banks grew by 20 trillion UZS in 2023, reaching a total of 107 trillion UZS.
– Deposits from the population rose by 25 trillion UZS, totaling 105 trillion UZS.
– The total amount of loans issued in 2023 is expected to reach 275 trillion UZS, with projections exceeding 300 trillion UZS by 2025.
– The share of loans to small businesses is set to increase from 28% to 40%, amounting to 120 trillion UZS.
These trends demonstrate the steady development of Uzbekistan’s banking system and its growing trust from both the public and the business community. To meet the increasing demands of entrepreneurs, banks are planning to attract $6 billion from international sources in 2025 without relying on state guarantees. This move signals a strengthened and self-sufficient financial system in Uzbekistan.