TASHKENT, Uzbekistan, May 30. Uzbekistan’s Asakabank plans to attract $2.1 billion for projects in 2024, Trend reports.
This was revealed during a presentation by the bank to President Shavkat Mirziyoyev on the activities of Asakabank in attracting investments and supporting small and medium-sized businesses.
During the presentation, it was revealed that the bank has formed projects worth $3 billion in the pharmaceutical and automobile industries.
In addition, Asakabank plans to engage 285,000 people in entrepreneurship by supporting their business initiatives.
Meanwhile, Uzbekistan and the European Bank for Reconstruction and Development (EBRD) signed an agreement on the privatization of Asakabank.
According to the EBRD, pre-privatization support includes the transfer of know-how, technical assistance, and possible equity investment.
Earlier, Fitch Ratings predicted the timing of the sale of Uzbekistan's two large banks, Uzpromstroybank (Uzbek Industrial and Construction Bank) and Asakabank. According to Fitch, the sales were recently postponed to late 2024 and late 2025, respectively. Analysts speculate on possible further postponements.
