@President.uz

Uzbekistan’s Banks Double Their Capital in Five Years

Uzbekistan’s president Shavkat Mirziyoyev has familiarized himself with a presentation on the country’s banks’ participation in attracting foreign investments.

Over the past five years, the capital of Uzbek banks has doubled, their loan portfolio has increased 2.3 times, and the volume of annual lending has grown 1.8 times.

Mirziyoyev commented: “Four banks issued Eurobonds for the first time and attracted $1.3 billion. Last year, banks attracted $3.8 billion worth of foreign loans, and their large clients directly attracted $6 billion without government guarantees. In modern conditions, it is necessary to expand this activity and realize projects qualitatively”.

The presentation also provided information on the activities of the National Bank of Uzbekistan and Uzpromstroybank. This year, the National Bank plans to implement projects worth $6 billion.

Uzpromstroybank plans to attract funds worth $3.1 billion from the international financial market this year. The bank’s clients have started the realization of investment projects worth $4.8 billion.

Mirziyoyev has called for systematic monitoring of investment projects of clients and prompt resolution of emerging problems, emphasizing the importance of comprehensive support of entrepreneurs at all levels — from district to republican, increasing their financial and innovation awareness.

Avatar

Times of Central Asia

Hospitals in Bishkek treat those wounded in the unrest; image: TCA, A.Chipegin

Kyrgyzstan’s President Warns of Swift Crackdown If Unrest Flares Again

President Sadyr Japarov of Kyrgyzstan on Monday has addressed the nation about recent unrest and anti-foreigner sentiment, saying “our hot-blooded youth” were led astray by inflammatory internet posts and warning of a crackdown if it happens again.

Japarov spoke after a week of tension in Bishkek that began with a fight between local and foreign people at a hostel on May 13 and culminated with large crowds of angry Kyrgyz youths roaming intersections on the night of May 17-18. There were scattered attacks on foreigners, whose population includes students and workers from Egypt, Pakistan and other countries. Some people were hospitalized. Riot police were on standby as officials negotiated with the crowds and persuaded them to disperse peacefully.

“Now, if such an event happens again, then the law enforcement agencies will switch to the method of dispersal by force from the first minutes. Thank God, now the power structures are not as weak as they used to be,” Japarov said. “Anyone, whether he is our citizen or a foreign citizen, who threatens the integrity of our state, organizes chaos, will be punished mercilessly.”

Japarov said the demands of Kyrgyz youth for tough action against illegal migration were “certainly correct” and that the government had taken steps to address the problem. But he chastised those who were “led by the temptations of provocateurs” seeking to spread chaos. The president referred to “bloggers” trying to foment a “large-scale uprising in the crowd,” though he did not offer more details on the alleged agitators.

Kyrgyzstan has experienced periodic unrest on a much bigger scale over the years, and three presidents have been ousted by uprisings since 2005. Japarov, who had been in exile and in prison, came to power in 2021 after being freed by supporters whose protests against a disputed election toppled the previous government.

The Central Asian country had been known for a lively media scene and other relative freedoms in a region with authoritarian traditions. Japarov has rolled back some of those rights, tightening control over foreign funded non-governmental organizations despite international concerns and increasing pressure on some media critical of the government.

Japarov said law enforcement officials arrested “the perpetrators” of the May 13 brawl and appealed to the country to consider the damage that the unrest of the last week can do to tourism and the economy, as well as the nation’s interaction with the world. He noted that more than one million Kyrgyz citizens live abroad (the total population is about seven million), and that the number of working migrants in Kyrgyzstan is 5,322 people and foreign students number 42,620.

“We should be happy about that,” he said.

Avatar

Times of Central Asia

photo : TCA

More Irrigation Water Pledged for Southern Kazakhstan

A revision of interstate water flow limits for Kazakhstan, through the operation of transboundary rivers and canals, has been approved by the country’s upstream neighbors.

The agreement made on 20 May, which will increase the supply of irrigation water during this year’s growing season, aims to benefit farmers in the country’s driest southern regions of Turkestan, Kyzylorda, and Zhambyl.

An additional 300 million cubic meters of water has been channelled from Uzbekistan into the Shardara reservoir located on the Syrdarya River in the Turkestan region of Kazakhstan. To date, the reservoir holds 4.8 cubic kilometers of water. In April and May alone, 1.4 cubic km of water entered the Shardara reservoir, doubling the volume received in the same period last year.

Kazakhstan, Tajikistan, and Uzbekistan have now confirmed plans for the Bahri Tojik reservoir in Tajikistan, scheduled for July-August, which will guarantee water flow to Kazakhstan through Uzbekistan.

Based on hydrological forecasts and the current water levels in Kyrgyzstan’s Kirov and Orto-Tokoi reservoirs, totalling 380 million cubic meters, approval has been granted for Kazakhstan to receive 44 million cubic meters more than last year.

Kazakhstan will also be supplied with 180 million cubic meters of water from the Shu River in Kyrgyzstan; an increase of 26 million cubic meters compared to 2023.

Most of the 1.5 million hectares of land currently irrigated in Kazakhstan are in the south; these regions are forecast to be especially hot and dry this summer.

Due to spring floods, reservoirs are now 70- 90% full in the northern, central, western and some eastern regions.

 

 

Avatar

Times of Central Asia

@iStock

Prospective Kazakh Citizens Must Know Country’s Language and History

Under a new law, people applying for Kazakh citizenship will be refused if they do not show at least basic knowledge of the country’s language, history and constitution, reports Kursiv.

Ministry of Internal Affairs representative Shyngys Alekeshev commented on the law: “The elementary level will be determined by the Ministry of Science and Higher Education. The purpose of the amendments is rapid adaptation and integration into society. Knowledge of the language, first of all, is necessary for the citizens themselves, wishing to obtain our citizenship, to more quickly integrate into society and participate in the life of the state”.

The ministry added that the legislative amendments are in line with global practice.

Earlier it was reported that the authorities intend to teach the Kazakh language to Russian-speaking children and toddlers who have arrived from other countries. For this purpose, the Ministry of Education will create a program of “early immersion in the Kazakh language” in kindergartens and schools. Officials emphasize that this will help to form “Kazakh identity in young citizens”.

Avatar

Times of Central Asia

photo: govt website - Kuryk port

Kazakhstan Increases Cargo Transshipment through Caspian Seaports along TITR

As announced by the Kazakh Transport Ministry, the volume of cargo shipped through Kazakhstan’s seaports of Aktau and Kuryk along the Trans-Caspian International Transport Route (TITR) increased by 15% during the first quarter of this year.

Cargo transshipment by trucks through the port of Kuryk rose by 34% and by rail containers through the port of Aktau by 27%.

The transit of rail containers from China to EU countries through Kazakhstan grew 3.4-fold.

To further increase the potential of the Trans-Caspian International Transport Route, the Ministry of Transport will begin dredging the port of Kuryk from mid-summer to provide sufficient depth for ships to enter the harbor.

 

 

Avatar

Times of Central Asia

@bulak.kg

Construction of HPP in Talas region of Kyrgyzstan Allocated $32.6 Million

The amount it will cost to build the Bala-Saruu HPP in the Talas region of Kyrgyzstan has been announced, 24.kg reports. Ulan Astarkulov, Director of Chakan HPP, told Birinchi Radio that the Ministry of Finance of the Kyrgyz Republic has allocated a budget loan of 2 billion som ($22.7 million). Later, the Russian-Kyrgyz Development Fund allocated an additional 882 million som.

According to Astarkulov, the production capacity of the HPP will cover 60-70% of the electricity demand in the Talas region. A presidential order on the construction of the HPP was signed on July 2, 2021.

The Bala-Saruu HPP construction project involves the construction of a HPP with three generators with a total capacity of 25 megawatts and an average annual electricity production of 92 million kWh. The operation mode of the HPP will be regulated under the irrigation regime and water flow from the Kirov Reservoir. The feasibility study of the project was developed by a Norwegian company. Equipment has been imported from Austria, Russia, and Uzbekistan.

Avatar

Times of Central Asia