ASTANA (TCA) — In their joint statement the Government of Kazakhstan and the National Bank recently proposed a package of measures to support agricultural producers and the agrarian sector as a whole. As part of this work, on September 19, the Government of Kazakhstan and the National Bank approved a mechanism for the purchase of a portfolio of agricultural loans from Kazakhstan’s Tsesnabank JSC for 450 billion tenge, the official website of the Prime Minister of Kazakhstan reported.

Within the next few days, the mechanism will be implemented, which will improve the conditions for agricultural producers, as well as increase the sustainability of Tsesnabank due to a fundamental improvement in the quality of its loan portfolio. Also, the amount and exact schedule of additional capitalization of Tsesnabank by its shareholders were determined.

Tsesnabank JSC jointly with JSC KazAgro NMH approved the mechanism for converting foreign currency loans granted to Kazakh agricultural producers to tenge loans with an extension of the lending terms. This will reduce the debt burden of agricultural enterprises and reduce the dependence on exchange rate fluctuations caused by external factors.

As part of the measures taken, the State provides support to the country’s agricultural sector, as well as the sustainability of Tsesnabank, which holds leading positions in lending to agricultural producers and is of systemic importance for the financial sector of the country.

TASHKENT (TCA) — Asian Development Bank (ADB) Vice-President Mr. Wencai Zhang reiterated ADB’s support for the Uzbek government’s development and reform agenda, and expressed confidence in the country’s economic prospects during his 4-day visit to Uzbekistan from 19 to 22 September. Mr. Zhang met with the Prime Minister Mr. Abdulla Aripov, First Deputy Prime Minister Mr. Achilbay Ramatov, Deputy Prime Minister, Chairman of the State Committee for Investments, and ADB Governor Mr. Sukhrob Kholmuradov, Deputy Prime Minister and Minister of Finance Mr. Djamshid Kuchkarov, and other government officials. He congratulated the government on its bold and far-reaching reforms to strengthen macroeconomic stability and resilience, and promote inclusive and sustainable development.

“This is an important stage in Uzbekistan’s history,” said Mr. Zhang. “ADB values our long-standing partnership with Uzbekistan and shares the government’s vision of bringing prosperity to the people of Uzbekistan.”

ADB is preparing a new 5-year Country Partnership Strategy (CPS) for Uzbekistan to establish a stronger foundation for inclusive, diversified, and sustainable economic growth, improving governance and institutional capacity, and promoting regional cooperation and connectivity. The 2019–2023 CPS supports the government’s development strategy and priorities for Uzbekistan. ADB plans to mobilize more than $1 billion a year in the next three years to improve water supply and sanitation, transport infrastructure, energy generation and distribution, and youth employment to create jobs in rural areas; broaden access to modern healthcare; and support the government’s reform program in economic management and social protection improvement.

During the visit, Mr. Zhang spoke at an international transport conference organized by the Ministry of Foreign Trade of Uzbekistan. He underlined Uzbekistan’s support for regional cooperation and ADB’s commitment to improve transport networks in Central and West Asia. Mr. Zhang also gave a guest lecture on the economic benefits of regional cooperation to students and professors at the Westminster International University in Tashkent.

During his visit, Mr. Zhang will also visit ADB-supported projects and meet with local government and project beneficiaries, including horticultural and other small businesses that received SME financing jointly provided by ADB and the Uzbek government through local commercial banks.

Since joining ADB in 1995, Uzbekistan has committed 67 loans totaling $7.0 billion, including two private sector loans totaling $225 million. ADB also provided $6 million in equity investment, $218 million in guarantees, and $83.6 million in technical assistance grants. Until now in 2018, ADB committed two loans totaling $750 million to improve power generation efficiency and support ongoing reforms through better economic management in the country.

ISSYK-KUL, Kyrgyzstan (TCA) — The Aarhus Centres and Public Environmental Information Centres from 15 countries concluded on September 20 in Issyk-Kul a two-day meeting on the 2030 Agenda for Sustainable Development and its goals, the OSCE reported.

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TASHKENT (TCA) — Uzbekistan’s first world-class ski resort is expected to host its first guests this December, the official Jahon information agency reported.

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TASHKENT (TCA) — Uzbekistan is to open Tashkent – Jeddah (Saudi Arabia) – Tashkent air flight in October. This was announced during a briefing on “Investment and tourism potential of Uzbekistan” held by the Consulate General of Uzbekistan in Jeddah, Saudi Arabia, in cooperation with Jeddah Chamber of Commerce and Industry on September 16, the Jahon information agency reported.

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ASHGABAT (TCA) — In August 2018 the number of people included in the blacklists of those barred from exiting Turkmenistan reached 30,874, independent news website Chronicles of Turkmenistan reports with reference to Turkmenistan’s Independent Lawyers Association.

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